Metalpha Technology (NASDAQ:MATH) Stock Price Down 1.2% – Here’s What Happened

Metalpha Technology Holding Limited (NASDAQ:MATH) traded down 1.2% during trading on Friday . The stock traded as low as $2.33 and last traded at $2.38. 19,093 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 49,577 shares. The stock had previously closed at $2.41.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Metalpha Technology in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Metalpha Technology Trading Down 1.2%

The firm’s fifty day moving average price is $2.79 and its 200-day moving average price is $3.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of Metalpha Technology by 42.2% during the first quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock valued at $35,000 after buying an additional 6,040 shares during the last quarter. Geode Capital Management LLC acquired a new stake in Metalpha Technology in the 2nd quarter valued at approximately $100,000. Finally, FNY Investment Advisers LLC increased its position in Metalpha Technology by 714.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 157,229 shares of the company’s stock valued at $503,000 after acquiring an additional 137,923 shares during the period. Institutional investors own 30.53% of the company’s stock.

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.