MMTec (NASDAQ:MTC) Stock Price Down 15.1% – Here’s What Happened

MMTec, Inc. (NASDAQ:MTC)’s stock price traded down 15.1% during mid-day trading on Tuesday . The company traded as low as $3.31 and last traded at $3.33. Approximately 33,053 shares were traded during mid-day trading, an increase of 5% from the average session volume of 31,472 shares. The stock had previously closed at $3.92.

Analysts Set New Price Targets

MTC has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of MMTec to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MMTec in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

MMTec Stock Performance

The stock’s 50-day moving average is $3.22 and its 200-day moving average is $4.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 12.50 and a current ratio of 12.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MTC. Renaissance Technologies LLC acquired a new position in MMTec in the 4th quarter valued at approximately $92,000. Susquehanna International Group LLP grew its holdings in shares of MMTec by 648.5% during the 3rd quarter. Susquehanna International Group LLP now owns 89,595 shares of the company’s stock worth $74,000 after purchasing an additional 77,625 shares in the last quarter. Finally, Marex Group plc acquired a new stake in shares of MMTec during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 0.25% of the company’s stock.

About MMTec

MMTec, Inc, together with its subsidiaries, develops and deploys platforms that enable financial institutions to engage in securities market transactions and settlements worldwide. The company operates in two segments, Gujia and MM Global. It offers Internet-based securities solutions comprising Securities Dealers Trading System, which supports securities registration and clearing, account management, risk management, trading and execution, and third party access middleware; Private Fund Investment Management System that supports multi-account management, fund valuation, risk management, quantitative trading access, liquidation, and requisition management; and Mobile Transaction Individual Client System and PC Client System for Apple IOS, Android, PC, and Web applications.