MMTec (NASDAQ:MTC) Shares Up 11.6% – Here’s Why

MMTec, Inc. (NASDAQ:MTCGet Free Report) traded up 11.6% during trading on Friday . The stock traded as high as $2.80 and last traded at $2.7450. 262,609 shares were traded during trading, a decline of 99% from the average session volume of 26,696,732 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of MMTec in a research report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Check Out Our Latest Report on MMTec

MMTec Stock Performance

The firm’s 50-day simple moving average is $1.38 and its two-hundred day simple moving average is $1.12.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MMTec stock. Susquehanna International Group LLP boosted its stake in MMTec, Inc. (NASDAQ:MTCFree Report) by 648.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,595 shares of the company’s stock after buying an additional 77,625 shares during the quarter. Susquehanna International Group LLP owned approximately 0.36% of MMTec worth $74,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.25% of the company’s stock.

MMTec Company Profile

(Get Free Report)

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.

Further Reading

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