MMTec (NASDAQ:MTC) Releases Quarterly Earnings Results

MMTec (NASDAQ:MTC) released its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share for the quarter, FiscalAI reports.

MMTec Trading Up 0.3%

MTC traded up $0.01 during midday trading on Thursday, reaching $3.04. 3,397 shares of the company were exchanged, compared to its average volume of 65,526. The stock’s 50-day simple moving average is $2.92 and its 200 day simple moving average is $4.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 12.50 and a quick ratio of 12.50. MMTec has a one year low of $0.25 and a one year high of $9.10.

Analyst Upgrades and Downgrades

Several analysts recently commented on MTC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MMTec in a research note on Wednesday, July 8th. Wall Street Zen upgraded MMTec to a “hold” rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On MMTec

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new stake in shares of MMTec during the fourth quarter worth $92,000. Marex Group plc bought a new stake in MMTec during the second quarter worth about $36,000. Finally, Susquehanna International Group LLP boosted its holdings in shares of MMTec by 648.5% in the 3rd quarter. Susquehanna International Group LLP now owns 89,595 shares of the company’s stock valued at $74,000 after buying an additional 77,625 shares during the last quarter. 0.25% of the stock is currently owned by institutional investors.

About MMTec

MMTec, Inc, together with its subsidiaries, develops and deploys platforms that enable financial institutions to engage in securities market transactions and settlements worldwide. The company operates in two segments, Gujia and MM Global. It offers Internet-based securities solutions comprising Securities Dealers Trading System, which supports securities registration and clearing, account management, risk management, trading and execution, and third party access middleware; Private Fund Investment Management System that supports multi-account management, fund valuation, risk management, quantitative trading access, liquidation, and requisition management; and Mobile Transaction Individual Client System and PC Client System for Apple IOS, Android, PC, and Web applications.