MMTec (NASDAQ:MTC) Shares Up 4.9% – Here’s What Happened
by Michael Walen · The Markets DailyMMTec, Inc. (NASDAQ:MTC – Get Free Report)’s stock price was up 4.9% on Tuesday . The stock traded as high as $2.59 and last traded at $2.55. 27,566 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 32,800 shares. The stock had previously closed at $2.43.
Wall Street Analyst Weigh In
Several research analysts have commented on MTC shares. Wall Street Zen upgraded shares of MMTec to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MMTec in a research report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, MMTec has an average rating of “Sell”.
Get Our Latest Analysis on MTC
MMTec Stock Up 4.9%
The firm’s fifty day moving average price is $4.13 and its 200-day moving average price is $4.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 12.50 and a quick ratio of 12.50.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP lifted its stake in 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 during the last quarter. Marex Group plc acquired a new position in MMTec in the 2nd quarter valued at about $36,000. Finally, Renaissance Technologies LLC acquired a new position in shares of MMTec in the fourth quarter valued at approximately $92,000. Institutional investors and hedge funds 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.