Metalpha Technology (NASDAQ:MATH) Shares Down 1.5% – Time to Sell?

Metalpha Technology Holding Limited (NASDAQ:MATH)’s share price was down 1.5% during mid-day trading on Friday . The stock traded as low as $0.8113 and last traded at $0.8218. 17,133 shares were traded during trading, a decline of 56% from the average daily volume of 38,980 shares. The stock had previously closed at $0.8339.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Metalpha Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Metalpha Technology presently has a consensus rating of “Sell”.

Metalpha Technology Trading Down 1.5%

The stock has a 50-day moving average price of $0.90 and a two-hundred day moving average price of $1.04.

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

Institutional Trading of Metalpha Technology

Several hedge funds have recently modified their holdings of MATH. Goldman Sachs Group Inc. grew its holdings in shares of Metalpha Technology by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock valued at $35,000 after purchasing an additional 6,040 shares in the last quarter. Geode Capital Management LLC bought a new stake in Metalpha Technology in the second quarter worth $100,000. HRT Financial LP raised its stake in Metalpha Technology by 242.0% during the fourth quarter. HRT Financial LP now owns 35,763 shares of the company’s stock valued at $75,000 after purchasing an additional 25,305 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Metalpha Technology during the first quarter valued at $53,000. 30.53% of the stock is owned by hedge funds and other institutional investors.

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.