Metalpha Technology (NASDAQ:MATH) Shares Break Below 50-Day Moving Average – Here’s What Happened

Metalpha Technology Holding Limited (NASDAQ:MATH)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $1.01 and traded as low as $0.9035. Metalpha Technology shares last traded at $0.9341, with a volume of 37,016 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings raised Metalpha Technology from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

Metalpha Technology Price Performance

The stock’s 50-day moving average is $1.01 and its 200 day moving average is $1.08.

Institutional Investors Weigh In On Metalpha Technology

An institutional investor recently bought a new stake in Metalpha Technology stock. Renaissance Technologies LLC acquired a new position in shares of Metalpha Technology Holding Limited (NASDAQ:MATH) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 46,100 shares of the company’s stock, valued at approximately $53,000. Renaissance Technologies LLC owned 0.12% of Metalpha Technology as of its most recent SEC filing. 30.53% of the stock is currently owned by hedge funds and other institutional investors.

About Metalpha Technology

Metalpha Technology Holding Limited (NASDAQ: MATH) is a financial technology company focused on digital asset wealth management and related financial services. Through its operating businesses, the company develops and provides structured products and other solutions designed to help institutional and professional investors manage exposure to cryptocurrencies and other digital assets. The company’s offerings have included customized digital asset investment products, over-the-counter derivatives and lending-related services.