Metalpha Technology (NASDAQ:MATH) Trading Up 3.2% – Should You Buy?

Metalpha Technology Holding Limited (NASDAQ:MATH)’s share price shot up 3.2% on Friday . The stock traded as high as $0.9101 and last traded at $0.8931. 12,049 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 32,538 shares. The stock had previously closed at $0.8650.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Metalpha Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Metalpha Technology presently has an average rating of “Hold”.

Metalpha Technology Stock Performance

The company’s 50-day moving average is $0.96 and its 200 day moving average is $1.16.

Metalpha Technology (NASDAQ:MATH) last issued its earnings results on Thursday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $12.56 million during the quarter.

Institutional Investors Weigh In On Metalpha Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Metalpha Technology by 11.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 79,344 shares of the company’s stock valued at $167,000 after purchasing an additional 8,353 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Metalpha Technology in the first quarter worth $53,000. HRT Financial LP lifted its holdings in shares of Metalpha Technology by 242.0% during the fourth quarter. HRT Financial LP now owns 35,763 shares of the company’s stock valued at $75,000 after purchasing an additional 25,305 shares in the last quarter. Finally, Geode Capital Management LLC bought a new position in shares of Metalpha Technology during the second quarter valued at $100,000. Institutional investors own 30.53% of the company’s stock.

About Metalpha Technology

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.