Metalpha Technology (NASDAQ:MATH) Trading Down 1.5% – Here’s What Happened

Shares of Metalpha Technology Holding Limited (NASDAQ:MATH) fell 1.5% during mid-day trading on Friday . The company traded as low as $0.8113 and last traded at $0.8218. 17,133 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 38,980 shares. The stock had previously closed at $0.8339.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Metalpha Technology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. One analyst has rated the stock with a Sell rating, According to MarketBeat, Metalpha Technology presently has an average rating of “Sell”.

Metalpha Technology Price Performance

The company’s 50-day simple moving average is $0.90 and its two-hundred day simple moving average is $1.04.

Metalpha Technology (NASDAQ:MATH) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $12.56 million for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of Metalpha Technology by 42.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock valued at $35,000 after acquiring an additional 6,040 shares during the period. Renaissance Technologies LLC purchased a new position in Metalpha Technology during the first quarter valued at approximately $53,000. HRT Financial LP lifted its holdings in Metalpha Technology by 242.0% during the fourth quarter. HRT Financial LP now owns 35,763 shares of the company’s stock valued at $75,000 after purchasing an additional 25,305 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new position in Metalpha Technology during the second quarter valued at approximately $100,000. 30.53% of the stock is owned by hedge funds and other institutional investors.

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.