MMTec (NASDAQ:MTC) Shares Down 15.1% – What’s Next?

MMTec, Inc. (NASDAQ:MTC) shares fell 15.1% on Tuesday . The company traded as low as $3.31 and last traded at $3.33. 33,053 shares changed hands during trading, an increase of 5% from the average daily volume of 31,472 shares. The stock had previously closed at $3.92.

Analysts Set New Price Targets

Several brokerages have issued reports on MTC. Weiss Ratings reissued a “sell (e+)” rating on shares of MMTec in a report on Wednesday, July 8th. Wall Street Zen raised shares of MMTec to a “hold” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, MMTec has a consensus rating of “Sell”.

MMTec Stock Down 15.1%

The company has a quick ratio of 12.50, a current ratio of 12.50 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $3.22 and a 200-day moving average price of $4.51.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in shares of MMTec during the fourth quarter valued at $92,000. Susquehanna International Group LLP grew 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 worth $74,000 after purchasing an additional 77,625 shares during the last quarter. Finally, Marex Group plc acquired a new stake in shares of MMTec during the 2nd quarter worth about $36,000. 0.25% of the stock is currently owned by institutional investors and hedge funds.

About MMTec

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.