Mercurity Fintech (NASDAQ:MFH) Stock Price Down 5.7% – What’s Next?

Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH)’s share price was down 5.7% during trading on Monday . The stock traded as low as $5.67 and last traded at $5.74. Approximately 104,586 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 368,355 shares. The stock had previously closed at $6.09.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mercurity Fintech in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Mercurity Fintech Price Performance

The firm has a fifty day moving average of $6.30 and a 200-day moving average of $8.80.

Hedge Funds Weigh In On Mercurity Fintech

Several hedge funds and other institutional investors have recently bought and sold shares of MFH. Russell Investments Group Ltd. acquired a new stake in Mercurity Fintech in the third quarter valued at approximately $44,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Mercurity Fintech in the second quarter valued at $28,000. BNP Paribas Financial Markets boosted its stake in shares of Mercurity Fintech by 145.2% in the third quarter. BNP Paribas Financial Markets now owns 7,701 shares of the company’s stock valued at $189,000 after purchasing an additional 4,560 shares during the period. Sei Investments Co. acquired a new stake in Mercurity Fintech during the 3rd quarter valued at $203,000. Finally, Bank of America Corp DE purchased a new stake in Mercurity Fintech during the 2nd quarter worth $39,000. 30.82% of the stock is owned by institutional investors and hedge funds.

Mercurity Fintech Company Profile

Mercurity Fintech Holding Inc operates as a fintech company powered by blockchain. The company provides digital asset trading infrastructure solutions based on internet and blockchain technologies for cryptocurrency traders; and asset digitalization platform, which offers blockchain-based digitalization solutions for traditional assets, such as fiat currencies, bonds, and precious metals. It also offers cryptocurrency mining services that provides computing power to the mining pool; and digital consultation services, such as digital payment solutions, asset management, and online and traditional brokerage services.