MMTec (NASDAQ:MTC) Posts Earnings Results

MMTec (NASDAQ:MTC) released its quarterly earnings data on Wednesday. The company reported ($0.01) EPS for the quarter, FiscalAI reports.

MMTec Price Performance

Shares of NASDAQ:MTC traded down $0.07 during midday trading on Friday, reaching $2.93. The company had a trading volume of 3,512 shares, compared to its average volume of 65,184. The company has a debt-to-equity ratio of 0.21, a current ratio of 12.50 and a quick ratio of 12.50. The business’s 50 day moving average price is $2.90 and its 200 day moving average price is $4.51. MMTec has a 1-year low of $0.25 and a 1-year high of $9.10.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded 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 note on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, MMTec presently has an average rating of “Sell”.

Institutional Investors Weigh In On MMTec

Large investors have recently made changes to their positions in the stock. Susquehanna International Group LLP grew its holdings in MMTec by 648.5% during 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 period. Marex Group plc bought a new stake in shares of MMTec in the second quarter valued at approximately $36,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of MMTec during the 4th quarter worth $92,000. Institutional investors and hedge funds own 0.25% of the company’s stock.

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.