Marqeta Sees Unusually High Options Volume (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQ) was the recipient of unusually large options trading on Friday. Stock investors acquired 10,000 put options on the company. This is an increase of approximately 257% compared to the typical daily volume of 2,799 put options.

Hedge Funds Weigh In On Marqeta

Several large investors have recently made changes to their positions in the company. Cache Advisors LLC acquired a new position in shares of Marqeta in the 4th quarter valued at $129,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Marqeta by 18.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 860,234 shares of the company’s stock valued at $3,260,000 after buying an additional 133,188 shares during the period. Wexford Capital LP bought a new position in Marqeta during the fourth quarter worth about $94,000. Two Sigma Advisers LP grew its position in shares of Marqeta by 30.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,071,400 shares of the company’s stock worth $19,221,000 after buying an additional 1,188,100 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Marqeta by 9.2% in the 4th quarter. Two Sigma Investments LP now owns 3,458,087 shares of the company’s stock valued at $13,106,000 after acquiring an additional 292,698 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Stock Down 4.2 %

MQ stock traded down $0.17 during midday trading on Friday, reaching $3.76. 575,406 shares of the company’s stock traded hands, compared to its average volume of 4,126,006. The company has a 50-day simple moving average of $3.78 and a two-hundred day simple moving average of $4.44. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 186.70 and a beta of 1.52.

Wall Street Analysts Forecast Growth

MQ has been the topic of several research reports. Monness Crespi & Hardt lowered Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research report on Tuesday, November 5th. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. The Goldman Sachs Group decreased their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Wells Fargo & Company cut their target price on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, Barclays restated an “equal weight” rating and set a $4.00 price target (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.65.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.