B. Riley Financial Lowers Antalpha Platform (NASDAQ:ANTA) Price Target to $10.00

Antalpha Platform (NASDAQ:ANTA) had its target price reduced by analysts at B. Riley Financial from $14.00 to $10.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s price target suggests a potential upside of 19.19% from the company’s current price.

Antalpha Platform Stock Up 0.5%

ANTA opened at $8.39 on Wednesday. The firm has a market cap of $193.81 million and a P/E ratio of 11.82. The business’s fifty day simple moving average is $9.13 and its 200 day simple moving average is $10.50. Antalpha Platform has a 52 week low of $8.26 and a 52 week high of $27.72. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 4.77.

Antalpha Platform (NASDAQ:ANTA) last released its earnings results on Wednesday, March 4th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. Antalpha Platform had a net margin of 23.21% and a return on equity of 24.84%. The company had revenue of $28.01 million for the quarter, compared to analyst estimates of $26.67 million.

Antalpha Platform announced that its Board of Directors has initiated a share buyback program on Monday, November 24th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Antalpha Platform

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in Antalpha Platform in the second quarter valued at about $31,000. Oxford Asset Management LLP purchased a new stake in shares of Antalpha Platform during the 2nd quarter valued at about $143,000. State of Wyoming acquired a new position in Antalpha Platform during the 3rd quarter worth approximately $184,000. Finally, Connective Capital Management LLC purchased a new position in Antalpha Platform in the 2nd quarter worth approximately $248,000.

About Antalpha Platform

Antalpha provides financing, technology and risk management solutions to the digital asset industry. As the primary lending partner for Bitmain, we are a provider of supply chain financing solutions to institutional and corporate participants in the Bitcoin mining industry, offering loans secured by Bitcoin and Bitcoin mining machines. We have developed a technology platform, Antalpha Prime, which enables our customers to apply for and manage their digital asset loans while allowing us to closely monitor collateral positions.