Metalpha Technology (NASDAQ:MATH) Shares Up 2.2% – Here’s Why

Metalpha Technology Holding Limited (NASDAQ:MATH)’s stock price shot up 2.2% during trading on Friday . The stock traded as high as $0.9329 and last traded at $0.8890. 151,303 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 139,808 shares. The stock had previously closed at $0.87.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Metalpha Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Metalpha Technology Price Performance

The company’s fifty day simple moving average is $1.07 and its 200 day simple moving average is $1.67.

Hedge Funds Weigh In On Metalpha Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new position in shares of Metalpha Technology in the first quarter valued at about $53,000. HRT Financial LP grew its stake in shares of Metalpha Technology by 242.0% in the fourth quarter. HRT Financial LP now owns 35,763 shares of the company’s stock valued at $75,000 after acquiring an additional 25,305 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Metalpha Technology by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 79,344 shares of the company’s stock valued at $167,000 after acquiring an additional 8,353 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new position in shares of Metalpha Technology in the second quarter valued at about $100,000. 30.53% of the stock is currently owned by institutional investors and hedge funds.

About Metalpha Technology

Metalpha Technology Holding Limited, together with its subsidiaries, provides wealth management services in Hong Kong. The company offers digital asset-based wealth management services, which include issuing traditional financial and cryptocurrency derivative products to over-the-counter clients, providing crypto derivative market making services, and proprietary trading of digital assets and crypto derivative products; and securities advising and asset management services. It serves institutional investors and high-net-worth individuals.