Pintec Technology (NASDAQ:PT) Stock Price Down 1.9% – Here’s Why

Pintec Technology Holdings Ltd. (NASDAQ:PT)’s stock price fell 1.9% during trading on Tuesday . The company traded as low as $0.9758 and last traded at $1.03. Approximately 7,484 shares were traded during trading, a decline of 97% from the average session volume of 243,928 shares. The stock had previously closed at $1.05.

Pintec Technology Trading Down 1.9%

The company’s 50-day moving average is $1.03 and its two-hundred day moving average is $0.99.

Institutional Trading of Pintec Technology

A hedge fund recently bought a new stake in Pintec Technology stock. Virtu Financial LLC purchased a new position in Pintec Technology Holdings Ltd. (NASDAQ:PT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 49,986 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned about 0.32% of Pintec Technology at the end of the most recent reporting period. 6.57% of the stock is currently owned by institutional investors and hedge funds.

Pintec Technology Company Profile

Pintec Technology Holdings Limited, founded in 2008 and headquartered in Beijing, is a leading fintech company that provides technology-enabled financial solutions to banks, consumer finance companies and other financial institutions in China. Its core business revolves around an origination-as-a-service platform that enables partners to quickly launch and manage digital lending and wealth management products. This platform covers the entire credit lifecycle, including customer acquisition, credit decisioning, risk management and post-loan servicing.

In addition to its fintech platform business, Pintec operates a content-based marketing platform that harnesses big data analytics and AI-driven algorithms to match financial service providers with potential customers through online media, social networks and other digital channels.