Metalpha Technology (NASDAQ:MATH) Trading Down 2.6% – Here’s What Happened

Metalpha Technology Holding Limited (NASDAQ:MATH)’s stock price traded down 2.6% on Wednesday . The company traded as low as $1.11 and last traded at $1.12. 11,989 shares traded hands during trading, a decline of 59% from the average session volume of 29,339 shares. The stock had previously closed at $1.15.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Metalpha Technology in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Metalpha Technology Trading Down 2.6%

The company has a 50 day simple moving average of $1.36 and a 200 day simple moving average of $2.36.

Metalpha Technology (NASDAQ:MATH) last released its earnings results on Friday, February 20th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $12.02 million during the quarter.

Institutional Investors Weigh In On Metalpha Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in shares of Metalpha Technology by 42.2% during the first quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock worth $35,000 after buying an additional 6,040 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of Metalpha Technology in the second quarter valued at about $100,000. Finally, HRT Financial LP lifted its stake in shares of Metalpha Technology by 242.0% in the fourth quarter. HRT Financial LP now owns 35,763 shares of the company’s stock worth $75,000 after buying an additional 25,305 shares in the last quarter. Institutional investors and hedge funds own 30.53% of the company’s stock.

Metalpha Technology Company Profile

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.