Metalpha Technology (NASDAQ:MATH) Stock Price Down 2.8% – Here’s What Happened

Metalpha Technology Holding Limited (NASDAQ:MATH)’s stock price traded down 2.8% during trading on Thursday . The stock traded as low as $2.12 and last traded at $2.12. 29,718 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 39,309 shares. The stock had previously closed at $2.18.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Metalpha Technology in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Metalpha Technology presently has an average rating of “Hold”.

Metalpha Technology Stock Performance

The company has a 50 day simple moving average of $2.57 and a 200-day simple moving average of $3.00.

Institutional Trading of Metalpha Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC raised its stake in shares of Metalpha Technology by 714.4% during the second quarter. FNY Investment Advisers LLC now owns 157,229 shares of the company’s stock worth $503,000 after acquiring an additional 137,923 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Metalpha Technology during the 2nd quarter valued at $100,000. Finally, Goldman Sachs Group Inc. raised its position in Metalpha Technology by 42.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock worth $35,000 after purchasing an additional 6,040 shares during the period. Hedge funds and other institutional investors own 30.53% of the company’s stock.

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.