MMTec (NASDAQ:MTC) Trading Up 6.1% – Time to Buy?

MMTec, Inc. (NASDAQ:MTC) traded up 6.1% during mid-day trading on Wednesday . The company traded as high as $6.00 and last traded at $5.93. 37,683 shares changed hands during trading, an increase of 13% from the average session volume of 33,398 shares. The stock had previously closed at $5.59.

Wall Street Analysts Forecast Growth

MTC has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of MMTec in a research note on Monday, December 29th. Wall Street Zen upgraded shares of MMTec to a “sell” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

MMTec Stock Performance

The company has a 50 day moving average price of $3.95 and a 200-day moving average price of $2.56.

Institutional Trading of MMTec

Institutional investors and hedge funds have recently bought and sold shares of the company. Marex Group plc purchased a new stake in MMTec during the 2nd quarter valued at $36,000. Susquehanna International Group LLP lifted its position 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 valued at $74,000 after buying an additional 77,625 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of MMTec in the fourth quarter worth approximately $92,000. 0.25% of the stock is currently owned by institutional investors.

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.