Short Interest in Metalpha Technology Holding Limited (NASDAQ:MATH) Expands By 146.7%

Metalpha Technology Holding Limited (NASDAQ:MATH) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 81,832 shares, an increase of 146.7% from the April 15th total of 33,176 shares. Based on an average daily volume of 97,001 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Metalpha Technology

Hedge funds have recently added to or reduced their stakes in the business. HRT Financial LP increased its holdings in Metalpha Technology by 242.0% during the 4th quarter. HRT Financial LP now owns 35,763 shares of the company’s stock valued at $75,000 after acquiring an additional 25,305 shares in the last quarter. Geode Capital Management LLC purchased a new position in Metalpha Technology during the 2nd quarter valued at about $100,000. Renaissance Technologies LLC purchased a new position in Metalpha Technology during the 1st quarter valued at about $53,000. Finally, 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. 30.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Metalpha Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Metalpha Technology Stock Down 5.5%

Shares of NASDAQ MATH traded down $0.05 during midday trading on Friday, hitting $0.93. The company had a trading volume of 140,569 shares, compared to its average volume of 129,539. Metalpha Technology has a twelve month low of $0.91 and a twelve month high of $4.17. The business has a 50-day simple moving average of $1.13 and a two-hundred day simple moving average of $1.87.

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

About Metalpha Technology

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.