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

QMMM Holdings Limited (NASDAQ:QMMM) rose 19.4% during mid-day trading on Wednesday . 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.

Wall Street Analysts Forecast Growth

QMMM has been the topic of several research analyst reports. Wall Street Zen raised QMMM from a “sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of QMMM in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

QMMM Price Performance

The firm’s 50 day simple moving average is $116.60 and its 200-day simple moving average is $47.30.

Hedge Funds Weigh In On QMMM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of QMMM in the 3rd quarter valued at approximately $72,000. XTX Topco Ltd purchased a new position in QMMM in the third quarter worth $1,168,000. Susquehanna International Group LLP acquired a new stake in QMMM in the third quarter valued at $229,000. Millennium Management LLC purchased a new stake in shares of QMMM during the 3rd quarter worth $11,607,000. Finally, Bank of America Corp DE acquired a new position in shares of QMMM during the 3rd quarter worth $46,000.

QMMM Company Profile

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.