Metalpha Technology (NASDAQ:MATH) Stock Jumps 0.5% – Here’s What Happened

Metalpha Technology Holding Limited (NASDAQ:MATH) shot up 0.5% during mid-day trading on Thursday. The company traded as high as $1.10 and last traded at $1.0450. Approximately 59,243 shares were traded during trading, an increase of 16% from the average session volume of 51,231 shares. The stock had previously closed at $1.04.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Metalpha Technology from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Metalpha Technology Stock Up 0.5%

The company’s 50 day moving average price is $1.00 and its two-hundred day moving average price is $1.09.

Metalpha Technology (NASDAQ:MATH) last announced its earnings results on Thursday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $0.53 million for the quarter.

Institutional Investors Weigh In On Metalpha Technology

A hedge fund recently bought a new stake in Metalpha Technology stock. Renaissance Technologies LLC acquired a new position in Metalpha Technology Holding Limited (NASDAQ:MATH) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,100 shares of the company’s stock, valued at approximately $53,000. Renaissance Technologies LLC owned approximately 0.12% of Metalpha Technology at the end of the most recent reporting period. Institutional investors own 30.53% of the company’s stock.

About Metalpha Technology

Metalpha Technology Holding Limited (NASDAQ: MATH) is a financial technology company focused on digital asset wealth management and related financial services. Through its operating businesses, the company develops and provides structured products and other solutions designed to help institutional and professional investors manage exposure to cryptocurrencies and other digital assets.

The company’s offerings have included customized digital asset investment products, over-the-counter derivatives and lending-related services.