Metalpha Technology (NASDAQ:MATH) Stock Price Down 2.6% – Here’s Why

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

Analyst Upgrades and Downgrades

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

Metalpha Technology Price Performance

The business’s fifty day moving average price is $1.34 and its 200 day moving average price is $2.35.

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

Institutional Investors Weigh In On Metalpha Technology

A number of institutional investors have recently added to or reduced their stakes in the business. HRT Financial LP increased its position in 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 purchasing an additional 25,305 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Metalpha Technology by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 79,344 shares of the company’s stock valued at $167,000 after buying an additional 8,353 shares during the period. Finally, Geode Capital Management LLC purchased a new stake in shares of Metalpha Technology in the second quarter valued at approximately $100,000. Hedge funds and other institutional investors 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.