Currenc Group (NASDAQ:CURR) Trading 6.3% Higher – Here’s Why

Currenc Group Inc. (NASDAQ:CURR) shot up 6.3% during mid-day trading on Monday . The stock traded as high as $3.95 and last traded at $3.86. Approximately 223,210 shares were traded during trading, an increase of 45% from the average session volume of 154,141 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

Separately, UBS Group assumed coverage on shares of Currenc Group in a report on Wednesday, June 24th. They set a “reduce” rating for the company. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Currenc Group Trading Up 6.3%

The stock has a fifty day simple moving average of $3.10 and a 200 day simple moving average of $2.86. The firm has a market capitalization of $295.71 million, a P/E ratio of -12.87 and a beta of 0.11. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.25.

Institutional Trading of Currenc Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Currenc Group in the 4th quarter worth approximately $31,000. XTX Topco Ltd grew its holdings in Currenc Group by 66.5% during the 4th quarter. XTX Topco Ltd now owns 42,104 shares of the company’s stock valued at $75,000 after buying an additional 16,821 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Currenc Group during the third quarter valued at approximately $100,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Currenc Group during the first quarter valued at approximately $152,000. Institutional investors own 56.01% of the company’s stock.

Currenc Group Company Profile

Currenc Group, Inc engages in operating a fintech banking platform. It operates through the following segments: Remittance Services, Sales of Airtime, and Other Services. The company is headquartered in Singapore.