Metalpha Technology (NASDAQ:MATH) Shares Down 2.8% – Here’s What Happened

Metalpha Technology Holding Limited (NASDAQ:MATH) shares traded down 2.8% during trading on Thursday . The stock traded as low as $2.12 and last traded at $2.12. 29,718 shares traded hands during trading, a decline of 24% from the average session volume of 39,309 shares. The stock had previously closed at $2.18.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Metalpha Technology in a research note on Thursday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Metalpha Technology Stock Performance

The business’s 50 day moving average is $2.55 and its 200 day moving average is $2.99.

Institutional Investors Weigh In On Metalpha Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MATH. Goldman Sachs Group Inc. lifted its stake in Metalpha Technology by 42.2% during the first quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock worth $35,000 after purchasing an additional 6,040 shares during the last quarter. Geode Capital Management LLC purchased a new position in Metalpha Technology in the second quarter valued at approximately $100,000. Finally, FNY Investment Advisers LLC raised its holdings in Metalpha Technology by 714.4% during the second quarter. FNY Investment Advisers LLC now owns 157,229 shares of the company’s stock worth $503,000 after purchasing an additional 137,923 shares in the last quarter. Institutional investors and hedge funds own 30.53% of the company’s stock.

About Metalpha Technology

Metalpha Technology Holding Limited, together with its subsidiaries, provides wealth management services in Hong Kong. The company offers digital asset-based wealth management services, which include issuing traditional financial and cryptocurrency derivative products to over-the-counter clients, providing crypto derivative market making services, and proprietary trading of digital assets and crypto derivative products; and securities advising and asset management services. It serves institutional investors and high-net-worth individuals.