MMTec (NASDAQ:MTC) Stock Price Down 6.9% – Time to Sell?

MMTec, Inc. (NASDAQ:MTC)’s share price was down 6.9% during mid-day trading on Monday . The company traded as low as $3.20 and last traded at $3.22. Approximately 42,251 shares were traded during trading, a decline of 57% from the average daily volume of 98,074 shares. The stock had previously closed at $3.46.

Analyst Upgrades and Downgrades

MTC has been the topic of several recent research reports. Wall Street Zen upgraded shares of MMTec to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MMTec in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

MMTec Price Performance

The firm has a 50 day moving average price of $2.52 and a 200 day moving average price of $1.49.

Institutional Investors Weigh In On MMTec

A hedge fund recently raised its stake in MMTec stock. Susquehanna International Group LLP lifted its position in shares of MMTec, Inc. (NASDAQ:MTC) by 648.5% during the third quarter, according to the company in its most recent filing with the SEC. 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. 0.25% of the stock is owned by institutional investors.

MMTec Company Profile

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.