MMTec (NASDAQ:MTC) Trading 8.7% Higher – Here’s Why

MMTec, Inc. (NASDAQ:MTC) traded up 8.7% on Monday . The stock traded as high as $5.40 and last traded at $5.27. 97,158 shares changed hands during trading, an increase of 6% from the average session volume of 91,360 shares. The stock had previously closed at $4.85.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MTC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MMTec in a report on Friday, March 27th. Wall Street Zen raised MMTec to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

MMTec Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 12.50 and a quick ratio of 12.50. The business has a fifty day simple moving average of $6.16 and a 200 day simple moving average of $4.21.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of MMTec in the fourth quarter valued at $92,000. Marex Group plc purchased a new position in shares of MMTec in the second quarter valued at $36,000. Finally, Susquehanna International Group LLP increased its position in shares of MMTec by 648.5% in the third 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. Hedge funds and other institutional investors own 0.25% of the company’s stock.

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.