MMTec (NASDAQ:MTC) Stock Price Up 6.4% – Time to Buy?

MMTec, Inc. (NASDAQ:MTC) shares shot up 6.4% during trading on Tuesday . The company traded as high as $3.95 and last traded at $3.81. 62,123 shares changed hands during mid-day trading, an increase of 147% from the average daily volume of 25,126 shares. The stock had previously closed at $3.58.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of MMTec in a research report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, MMTec has a consensus rating of “Sell”.

MMTec Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 11.27 and a quick ratio of 12.50. The company’s 50 day moving average is $2.95 and its 200 day moving average is $4.52.

MMTec (NASDAQ:MTC) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter.

Institutional Investors Weigh In On MMTec

A number of hedge funds and other institutional investors have recently made changes to their positions in MTC. Marex Group plc bought a new position in MMTec during the 2nd quarter worth $36,000. Susquehanna International Group LLP grew its holdings in shares of MMTec by 648.5% during the 3rd quarter. Susquehanna International Group LLP now owns 89,595 shares of the company’s stock worth $74,000 after purchasing an additional 77,625 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of MMTec in the fourth quarter worth $92,000. 0.25% of the stock is currently owned by institutional investors and hedge funds.

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.