Metalpha Technology (NASDAQ:MATH) Trading Up 3.2% – Should You Buy?

Metalpha Technology Holding Limited (NASDAQ:MATH) shares were up 3.2% during mid-day trading on Friday . The stock traded as high as $0.9101 and last traded at $0.8931. Approximately 12,049 shares were traded during trading, a decline of 63% from the average daily volume of 32,538 shares. The stock had previously closed at $0.8650.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Metalpha Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Metalpha Technology Stock Performance

The business’s 50 day simple moving average is $0.96 and its two-hundred day simple moving average is $1.16.

Metalpha Technology (NASDAQ:MATH) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $12.56 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in Metalpha Technology by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock worth $35,000 after purchasing an additional 6,040 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Metalpha Technology during the 1st quarter valued at about $53,000. HRT Financial LP lifted its stake in shares of Metalpha Technology by 242.0% in 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. Finally, Geode Capital Management LLC bought a new position in shares of Metalpha Technology in the 2nd quarter worth approximately $100,000. Institutional investors own 30.53% of the company’s stock.

About Metalpha Technology

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.