QMMM (NASDAQ:QMMM) Stock Price Up 19.4% – Still a Buy?

QMMM Holdings Limited (NASDAQ:QMMM) rose 19.4% on Monday . The company traded as high as $119.40 and last traded at $119.40. Approximately 773,300 shares traded hands during mid-day trading, The stock had previously closed at $100.00.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of QMMM in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, QMMM currently has an average rating of “Sell”.

QMMM Trading Up 19.4%

The firm has a 50-day simple moving average of $119.40 and a 200 day simple moving average of $87.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new position in shares of QMMM during the third quarter valued at $46,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of QMMM during the 3rd quarter valued at about $72,000. BNP Paribas Financial Markets purchased a new stake in QMMM in the third quarter worth approximately $169,000. Susquehanna International Group LLP purchased a new position in shares of QMMM in the 3rd quarter worth $229,000. Finally, Sage Mountain Advisors LLC purchased a new position in QMMM in the third quarter worth about $272,000.

About QMMM

QMMM Holdings Ltd. engages in the provision of digital advertising services. It offers interactive design, animation, art-tech and virtual technologies used in commercial campaigns. It has worked with domestic and international banks, real estate developers, amusement parks, international athletic apparel, footwear brands, luxury cosmetic products, and international brands. The company was founded by Bun Kwai on July 29, 2022 and is headquartered in Hong Kong.