BTQ Technologies (NASDAQ:BTQ) Trading Down 6.1% – Here’s What Happened

BTQ Technologies Corp (NASDAQ:BTQ) shares traded down 6.1% on Wednesday . The company traded as low as $2.61 and last traded at $2.76. 2,274,000 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 2,343,766 shares. The stock had previously closed at $2.94.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of BTQ Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, October 21st.

BTQ Technologies Price Performance

The firm’s fifty day simple moving average is $5.52 and its 200-day simple moving average is $5.51.

Hedge Funds Weigh In On BTQ Technologies

A number of institutional investors have recently modified their holdings of the company. UBS Group AG purchased a new position in BTQ Technologies during the fourth quarter worth about $2,759,000. Millennium Management LLC purchased a new position in BTQ Technologies in the 3rd quarter worth approximately $2,618,000. Moneta Group Investment Advisors LLC purchased a new stake in BTQ Technologies during the 3rd quarter worth $1,149,000. United Advisor Group LLC purchased a new position in BTQ Technologies in the fourth quarter valued at about $512,000. Finally, DKM Wealth Management Inc. grew its position in shares of BTQ Technologies by 11.9% during the fourth quarter. DKM Wealth Management Inc. now owns 82,054 shares of the company’s stock worth $420,000 after buying an additional 8,751 shares in the last quarter.