QMMM (NASDAQ:QMMM) Trading Up 19.4% – Here’s What Happened

QMMM Holdings Limited (NASDAQ:QMMM)’s stock price was up 19.4% during trading on Monday . The company traded as high as $119.40 and last traded at $119.40. Approximately 773,300 shares traded hands during trading, a decline of 67% from the average daily volume of 2,364,426 shares. The stock had previously closed at $100.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of QMMM in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, QMMM currently has a consensus rating of “Sell”.

QMMM Stock Up 19.4%

The company’s 50 day simple moving average is $119.40 and its 200 day simple moving average is $100.85.

Hedge Funds Weigh In On QMMM

Institutional investors have recently added to or reduced their stakes in the business. Anson Funds Management LP acquired a new stake in QMMM in the 3rd quarter worth about $17,574,000. Millennium Management LLC purchased a new position in shares of QMMM during the 3rd quarter worth about $11,607,000. XTX Topco Ltd acquired a new stake in shares of QMMM in the third quarter worth approximately $1,168,000. Schonfeld Strategic Advisors LLC purchased a new stake in QMMM in the third quarter valued at approximately $526,000. Finally, Squarepoint Ops LLC acquired a new position in QMMM during the third quarter worth approximately $341,000.

QMMM Company Profile

QMMM Holdings Ltd. engages in the provision of digital advertising services. It offers interactive design, animation, art-tech and virtual technologies used in commercial campaigns. It has worked with domestic and international banks, real estate developers, amusement parks, international athletic apparel, footwear brands, luxury cosmetic products, and international brands. The company was founded by Bun Kwai on July 29, 2022 and is headquartered in Hong Kong.