Currenc Group (NASDAQ:CURR) Stock Price Up 9.1% – Still a Buy?

Currenc Group Inc. (NASDAQ:CURR)’s share price shot up 9.1% on Monday . The stock traded as high as $2.33 and last traded at $2.28. 154,479 shares changed hands during trading, a decline of 20% from the average session volume of 193,602 shares. The stock had previously closed at $2.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Currenc Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Currenc Group Trading Down 2.6%

The stock has a market capitalization of $170.42 million and a PE ratio of -2.55. The company’s 50 day simple moving average is $1.79 and its 200 day simple moving average is $1.97.

Hedge Funds Weigh In On Currenc Group

Several institutional investors have recently added to or reduced their stakes in CURR. Virtu Financial LLC purchased a new position in Currenc Group during the fourth quarter worth about $31,000. XTX Topco Ltd increased its stake in shares of Currenc Group by 66.5% during the 4th quarter. XTX Topco Ltd now owns 42,104 shares of the company’s stock valued at $75,000 after acquiring an additional 16,821 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Currenc Group during the 3rd quarter valued at about $100,000. 56.01% of the stock is currently owned by institutional investors and hedge funds.

Currenc Group Company Profile

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.