Metalpha Technology (NASDAQ:MATH) Trading 2.2% Higher – Still a Buy?

Metalpha Technology Holding Limited (NASDAQ:MATH)’s share price traded up 2.2% on Friday . The company traded as high as $0.9329 and last traded at $0.8890. 151,303 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 139,808 shares. The stock had previously closed at $0.87.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Metalpha Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Metalpha Technology Price Performance

The business’s 50-day moving average price is $1.07 and its 200 day moving average price is $1.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Metalpha Technology in the 1st quarter valued at about $53,000. HRT Financial LP boosted its holdings in shares of Metalpha Technology by 242.0% during the 4th quarter. HRT Financial LP now owns 35,763 shares of the company’s stock worth $75,000 after buying an additional 25,305 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Metalpha Technology by 11.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 79,344 shares of the company’s stock worth $167,000 after buying an additional 8,353 shares during the period. Finally, Geode Capital Management LLC bought a new stake in shares of Metalpha Technology during the 2nd quarter worth about $100,000. Institutional investors own 30.53% of the company’s stock.

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.