Maase (NASDAQ:MAAS) Shares Down 8.1% – Here’s Why

Maase Inc. (NASDAQ:MAAS)’s stock price dropped 8.1% during trading on Wednesday. The company traded as low as $10.99 and last traded at $11.1260. Approximately 128,724 shares changed hands during mid-day trading, an increase of 85% from the average daily volume of 69,728 shares. The stock had previously closed at $12.11.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Maase from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Maase Stock Performance

The stock has a 50 day moving average price of $14.01 and a 200-day moving average price of $11.66.

Maase (NASDAQ:MAAS) last released its earnings results on Monday, October 26th. The company reported $0.64 earnings per share for the quarter.

Hedge Funds Weigh In On Maase

A hedge fund recently bought a new position in Maase stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Maase Inc. (NASDAQ:MAAS) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 170,123 shares of the company’s stock, valued at approximately $2,780,000. Mirae Asset Global Investments Co. Ltd. owned approximately 1.07% of Maase at the end of the most recent quarter.

About Maase

Maase Inc operates as an integrated provider and operator of an artificial intelligence AI-centric full-scene digital systems. The company focuses on areas of flexible energy deployment and intelligent commercial network operation, and provide closed-loop solutions from computing infrastructure, smart hardware and full-scene services, aiming to achieve large-scale implementation of AI technologies across industries. The company was founded in 2010 and is based in Chengdu, China.