Pintec Technology (NASDAQ:PT) Trading 1.8% Higher – Still a Buy?

Pintec Technology Holdings Ltd. (NASDAQ:PT)’s stock price traded up 1.8% on Monday . The company traded as high as $0.9507 and last traded at $0.9231. 50,711 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 77,486 shares. The stock had previously closed at $0.9070.

Pintec Technology Stock Performance

The stock has a fifty day simple moving average of $0.97 and a 200-day simple moving average of $0.97.

Hedge Funds Weigh In On Pintec Technology

A hedge fund recently bought a new stake in Pintec Technology stock. Virtu Financial LLC acquired a new position in shares of Pintec Technology Holdings Ltd. (NASDAQ:PT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 49,986 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned approximately 0.32% of Pintec Technology at the end of the most recent quarter. 6.57% of the stock is owned by hedge funds and other institutional investors.

Pintec Technology Company Profile

Pintec Technology Holdings Limited, founded in 2008 and headquartered in Beijing, is a leading fintech company that provides technology-enabled financial solutions to banks, consumer finance companies and other financial institutions in China. Its core business revolves around an origination-as-a-service platform that enables partners to quickly launch and manage digital lending and wealth management products. This platform covers the entire credit lifecycle, including customer acquisition, credit decisioning, risk management and post-loan servicing.

In addition to its fintech platform business, Pintec operates a content-based marketing platform that harnesses big data analytics and AI-driven algorithms to match financial service providers with potential customers through online media, social networks and other digital channels.