Currenc Group (NASDAQ:CURR) Stock Price Down 7.3% – Time to Sell?

Currenc Group Inc. (NASDAQ:CURR) traded down 7.3% during trading on Thursday . The stock traded as low as $1.62 and last traded at $1.64. 252,824 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 220,588 shares. The stock had previously closed at $1.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Zacks Research raised Currenc Group from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Currenc Group in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

Currenc Group Stock Performance

The stock has a market cap of $76.31 million, a price-to-earnings ratio of -1.86 and a beta of 0.05. The company has a 50-day simple moving average of $2.39 and a two-hundred day simple moving average of $1.75.

Currenc Group (NASDAQ:CURR) last released its quarterly earnings data on Monday, November 10th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.17. The company had revenue of $10.39 million during the quarter, compared to analyst estimates of $9.50 million.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Currenc Group stock. Two Sigma Investments LP bought a new stake in Currenc Group Inc. (NASDAQ:CURR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 59,536 shares of the company’s stock, valued at approximately $100,000. Two Sigma Investments LP owned about 0.13% of Currenc Group as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 56.01% of the company’s stock.

Currenc Group Company Profile

Currenc Group, Inc engages in operating a fintech banking platform. It operates through the following segments: Remittance Services, Sales of Airtime, and Other Services. The company is headquartered in Singapore.