QMMM (NASDAQ:QMMM) Trading Up 19.4% – Still a Buy?

Shares of QMMM Holdings Limited (NASDAQ:QMMM) were up 19.4% on Thursday . The stock traded as high as $119.40 and last traded at $119.40. Approximately 773,300 shares changed hands during trading, The stock had previously closed at $100.00.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QMMM in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

QMMM Price Performance

The stock has a 50-day moving average of $119.40 and a two-hundred day moving average of $119.40.

Hedge Funds Weigh In On QMMM

A number of hedge funds and other institutional investors have recently modified their holdings of QMMM. Anson Funds Management LP purchased a new stake in QMMM in the 3rd quarter worth about $17,574,000. Millennium Management LLC purchased a new stake in QMMM in the 3rd quarter worth about $11,607,000. XTX Topco Ltd purchased a new stake in QMMM in the 3rd quarter worth about $1,168,000. Schonfeld Strategic Advisors LLC purchased a new stake in QMMM in the 3rd quarter worth about $526,000. Finally, Squarepoint Ops LLC purchased a new stake in QMMM in the 3rd quarter worth about $341,000.

About QMMM

QMMM Holdings Ltd. engages in the provision of digital advertising services. It offers interactive design, animation, art-tech and virtual technologies used in commercial campaigns. It has worked with domestic and international banks, real estate developers, amusement parks, international athletic apparel, footwear brands, luxury cosmetic products, and international brands. The company was founded by Bun Kwai on July 29, 2022 and is headquartered in Hong Kong.