Currenc Group (NASDAQ:CURR) Stock Price Down 3.3% – What’s Next?

Currenc Group Inc. (NASDAQ:CURRGet Free Report) shares were down 3.3% during trading on Wednesday . The stock traded as low as $2.55 and last traded at $2.61. 42,351 shares were traded during trading, a decline of 75% from the average session volume of 168,269 shares. The stock had previously closed at $2.70.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on shares of Currenc Group in a research note on Wednesday, June 24th. They issued a “reduce” rating for the company. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Get Our Latest Stock Analysis on CURR

Currenc Group Stock Performance

The stock has a fifty day moving average price of $3.26 and a 200 day moving average price of $2.52. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.25. The firm has a market cap of $199.95 million, a price-to-earnings ratio of -8.70 and a beta of 0.14.

Hedge Funds Weigh In On Currenc Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd raised its position in shares of Currenc Group by 66.5% in the fourth quarter. XTX Topco Ltd now owns 42,104 shares of the company’s stock valued at $75,000 after purchasing an additional 16,821 shares during the period. Virtu Financial LLC bought a new stake in shares of Currenc Group during the 4th quarter worth $31,000. Kestra Advisory Services LLC bought a new stake in shares of Currenc Group during the 1st quarter worth $152,000. Finally, Two Sigma Investments LP acquired a new position in Currenc Group in the 3rd quarter valued at $100,000. Institutional investors and hedge funds own 56.01% of the company’s stock.

About Currenc Group

(Get Free Report)

Currenc Group, Inc engages in operating a fintech banking platform. It operates through the following segments: Remittance Services, Sales of Airtime, and Other Services. The company is headquartered in Singapore.

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