QMMM (NASDAQ:QMMM) Shares Up 19.4% – What’s Next?

QMMM Holdings Limited (NASDAQ:QMMM) shares shot up 19.4% during trading on Monday . The company traded as high as $119.40 and last traded at $119.40. 773,300 shares were traded during trading, a decline of 67% from the average session volume of 2,364,426 shares. The stock had previously closed at $100.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QMMM in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

QMMM Trading Up 19.4%

The stock’s 50 day simple moving average is $119.40 and its 200 day simple moving average is $99.07.

Institutional Trading of QMMM

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC bought a new stake in shares of QMMM in the 3rd quarter valued at approximately $11,607,000. XTX Topco Ltd acquired a new position in QMMM in the third quarter worth $1,168,000. Schonfeld Strategic Advisors LLC bought a new stake in QMMM during the third quarter valued at $526,000. Squarepoint Ops LLC acquired a new stake in shares of QMMM during the third quarter worth $341,000. Finally, Susquehanna International Group LLP bought a new position in shares of QMMM in the 3rd quarter worth about $229,000.

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.