Metalpha Technology (NASDAQ:MATH) Shares Up 3.2% – Still a Buy?

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

Wall Street Analysts Forecast Growth

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

Metalpha Technology Stock Performance

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

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

Institutional Investors Weigh In On Metalpha Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MATH. Goldman Sachs Group Inc. increased its holdings in Metalpha Technology by 42.2% during the 1st 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 in the last quarter. Renaissance Technologies LLC bought a new stake in Metalpha Technology during the first quarter worth about $53,000. HRT Financial LP grew its stake in Metalpha Technology by 242.0% in 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, Geode Capital Management LLC bought a new stake in shares of Metalpha Technology during the 2nd quarter worth approximately $100,000. 30.53% of the stock is currently owned by institutional investors and hedge funds.

Metalpha Technology Company Profile

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.