Metalpha Technology (NASDAQ:MATH) Shares Down 1.5% – Time to Sell?

Metalpha Technology Holding Limited (NASDAQ:MATH) traded down 1.5% during mid-day trading on Friday . The stock traded as low as $0.8113 and last traded at $0.8218. 17,133 shares traded hands during trading, a decline of 56% from the average daily volume of 38,980 shares. The stock had previously closed at $0.8339.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Metalpha Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Metalpha Technology Trading Down 1.5%

The firm’s fifty day moving average is $0.90 and its 200 day moving average is $1.04.

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

Hedge Funds Weigh In On Metalpha Technology

Several hedge funds have recently modified their holdings of MATH. Goldman Sachs Group Inc. grew its position in Metalpha Technology by 42.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock worth $35,000 after purchasing an additional 6,040 shares during the last quarter. HRT Financial LP increased its stake in Metalpha Technology by 242.0% during the 4th 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. Geode Capital Management LLC purchased a new position in shares of Metalpha Technology in the second quarter worth $100,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Metalpha Technology in the first quarter worth $53,000. Institutional investors and hedge funds 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.