MMTec (NASDAQ:MTC) Trading Down 3.6% – Time to Sell?
by Sarita Garza · The Markets DailyMMTec, Inc. (NASDAQ:MTC – Get Free Report)’s share price traded down 3.6% on Wednesday . The stock traded as low as $5.40 and last traded at $5.40. 12,889 shares were traded during trading, a decline of 71% from the average session volume of 44,366 shares. The stock had previously closed at $5.60.
Analysts Set New Price Targets
A number of brokerages recently commented on MTC. Weiss Ratings reissued a “sell (d-)” rating on shares of MMTec in a research note on Friday, March 27th. Wall Street Zen raised shares of MMTec to a “sell” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, MMTec currently has a consensus rating of “Sell”.
Check Out Our Latest Analysis on MMTec
MMTec Stock Down 3.6%
The business’s 50 day moving average is $4.82 and its 200 day moving average is $3.07.
Hedge Funds Weigh In On MMTec
A number of large investors have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new position in MMTec in the fourth quarter worth approximately $92,000. Susquehanna International Group LLP grew its holdings in MMTec by 648.5% in the third quarter. Susquehanna International Group LLP now owns 89,595 shares of the company’s stock worth $74,000 after purchasing an additional 77,625 shares during the last quarter. Finally, Marex Group plc purchased a new position in MMTec in the second quarter worth $36,000. 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.