Currenc Group (NASDAQ:CURR) Trading 1.2% Higher – Here’s Why

Currenc Group Inc. (NASDAQ:CURR)’s share price was up 1.2% on Friday . The company traded as high as $1.7734 and last traded at $1.75. Approximately 49,951 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 240,336 shares. The stock had previously closed at $1.73.

Analyst Ratings Changes

Several brokerages have commented on CURR. Zacks Research upgraded Currenc Group from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Currenc Group in a report on Monday, December 29th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

Currenc Group Stock Up 1.2%

The stock has a 50 day simple moving average of $2.33 and a 200 day simple moving average of $1.91. The company has a market cap of $81.43 million, a price-to-earnings ratio of -1.99 and a beta of 0.09.

Currenc Group (NASDAQ:CURR) last posted its earnings results on Monday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Trading of Currenc Group

A hedge fund recently bought a new stake in Currenc Group stock. Two Sigma Investments LP bought a new position in shares of Currenc Group Inc. (NASDAQ:CURR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,536 shares of the company’s stock, valued at approximately $100,000. Two Sigma Investments LP owned approximately 0.13% of Currenc Group at the end of the most recent quarter. 56.01% of the stock is currently owned by institutional investors.

About Currenc Group

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.