Mercurity Fintech (NASDAQ:MFH) Shares Down 5.7% – What’s Next?

Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH)’s stock price fell 5.7% on Monday . The company traded as low as $5.67 and last traded at $5.74. 104,586 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 368,355 shares. The stock had previously closed at $6.09.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercurity Fintech in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Mercurity Fintech Stock Down 5.7%

The stock has a 50 day simple moving average of $6.30 and a 200 day simple moving average of $8.80.

Institutional Investors Weigh In On Mercurity Fintech

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Mercurity Fintech by 280.6% during the third quarter. JPMorgan Chase & Co. now owns 14,919 shares of the company’s stock valued at $367,000 after acquiring an additional 10,999 shares during the period. Millennium Management LLC bought a new stake in Mercurity Fintech in the 3rd quarter valued at about $3,335,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Mercurity Fintech by 54.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 204,674 shares of the company’s stock valued at $5,031,000 after purchasing an additional 72,268 shares during the period. Bank of America Corp DE grew its position in Mercurity Fintech by 28.3% in the 3rd quarter. Bank of America Corp DE now owns 12,829 shares of the company’s stock worth $315,000 after purchasing an additional 2,827 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of Mercurity Fintech in the third quarter valued at approximately $467,000. 30.82% of the stock is owned by institutional investors and hedge funds.

About Mercurity Fintech

Mercurity Fintech Holding Inc operates as a fintech company powered by blockchain. The company provides digital asset trading infrastructure solutions based on internet and blockchain technologies for cryptocurrency traders; and asset digitalization platform, which offers blockchain-based digitalization solutions for traditional assets, such as fiat currencies, bonds, and precious metals. It also offers cryptocurrency mining services that provides computing power to the mining pool; and digital consultation services, such as digital payment solutions, asset management, and online and traditional brokerage services.