Short Interest in Metalpha Technology Holding Limited (NASDAQ:MATH) Decreases By 34.4%

Metalpha Technology Holding Limited (NASDAQ:MATH) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 44,999 shares, a drop of 34.4% from the June 15th total of 68,614 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 50,480 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Metalpha Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in Metalpha Technology by 42.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock worth $35,000 after acquiring an additional 6,040 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Metalpha Technology in the first quarter worth $53,000. HRT Financial LP raised its position 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 worth $75,000 after buying an additional 25,305 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in Metalpha Technology during the second quarter valued at $100,000. 30.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Metalpha Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Metalpha Technology Trading Down 3.7%

NASDAQ:MATH opened at $0.90 on Friday. Metalpha Technology has a 52-week low of $0.84 and a 52-week high of $4.10. The business’s fifty day moving average is $0.99 and its 200 day moving average is $1.31.

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.