MMTec (NASDAQ:MTC) Shares Down 1.7% – What’s Next?

MMTec, Inc. (NASDAQ:MTC)’s stock price fell 1.7% on Wednesday . The stock traded as low as $4.16 and last traded at $4.16. 48,628 shares traded hands during trading, a decline of 16% from the average session volume of 58,224 shares. The stock had previously closed at $4.23.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MTC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of MMTec in a research report on Monday, December 29th. Wall Street Zen upgraded shares of MMTec to a “sell” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

MMTec Stock Down 1.7%

The business has a fifty day moving average of $3.30 and a 200-day moving average of $2.01.

Institutional Trading of MMTec

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marex Group plc bought a new position in MMTec during the 2nd quarter worth about $36,000. Susquehanna International Group LLP raised its holdings in shares of MMTec by 648.5% in the 3rd quarter. Susquehanna International Group LLP now owns 89,595 shares of the company’s stock valued at $74,000 after purchasing an additional 77,625 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of MMTec in the 4th quarter valued at about $92,000. 0.25% of the stock is currently owned by institutional investors.

MMTec Company Profile

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.