Currenc Group (NASDAQ:CURR) Stock Price Down 5.1% – Should You Sell?

Shares of Currenc Group Inc. (NASDAQ:CURR) fell 5.1% during trading on Thursday . The company traded as low as $3.14 and last traded at $3.34. Approximately 295,650 shares were traded during mid-day trading, an increase of 233% from the average session volume of 88,889 shares. The stock had previously closed at $3.52.

Analyst Upgrades and Downgrades

Separately, UBS Group began coverage on shares of Currenc Group in a research report on Wednesday, June 24th. They issued a “reduce” rating on the stock. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Sell”.

Currenc Group Stock Down 5.1%

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average price is $3.05 and its 200-day moving average price is $2.66. The company has a market cap of $255.88 million, a price-to-earnings ratio of -11.13 and a beta of 0.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CURR. XTX Topco Ltd raised its position in shares of Currenc Group by 66.5% during the fourth quarter. XTX Topco Ltd now owns 42,104 shares of the company’s stock worth $75,000 after purchasing an additional 16,821 shares during the period. Virtu Financial LLC bought a new position in shares of Currenc Group during the 4th quarter valued at about $31,000. Kestra Advisory Services LLC acquired a new position in shares of Currenc Group in the 1st quarter valued at approximately $152,000. Finally, Two Sigma Investments LP acquired a new position in shares of Currenc Group in the 3rd quarter valued at approximately $100,000. 56.01% of the stock is owned by institutional investors and hedge funds.

About Currenc Group

Currenc Group, Inc engages in operating a fintech banking platform. It operates through the following segments: Remittance Services, Sales of Airtime, and Other Services. The company is headquartered in Singapore.