MMTec (NASDAQ:MTC) Trading Down 6.9% – What’s Next?

Shares of MMTec, Inc. (NASDAQ:MTC) dropped 6.9% during trading on Monday . The stock traded as low as $3.20 and last traded at $3.22. Approximately 42,251 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 98,074 shares. The stock had previously closed at $3.46.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTC. Wall Street Zen raised shares of MMTec to a “sell” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of MMTec in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, MMTec currently has an average rating of “Sell”.

MMTec Stock Performance

The company has a 50-day moving average of $2.52 and a 200-day moving average of $1.49.

Institutional Investors Weigh In On MMTec

A hedge fund recently bought a new stake in MMTec stock. Marex Group plc acquired a new stake in MMTec, Inc. (NASDAQ:MTC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 34,212 shares of the company’s stock, valued at approximately $36,000. Marex Group plc owned about 0.14% of MMTec at the end of the most recent reporting period. 0.25% of the stock is currently owned by institutional investors and hedge funds.

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.