Metalpha Technology (NASDAQ:MATH) Trading Up 1.5% – Time to Buy?

Shares of Metalpha Technology Holding Limited (NASDAQ:MATH) shot up 1.5% during trading on Monday . The stock traded as high as $1.02 and last traded at $0.9750. 30,008 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 95,267 shares. The stock had previously closed at $0.9610.

Analysts Set New Price Targets

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

Metalpha Technology Price Performance

The company’s 50-day simple moving average is $1.03 and its 200 day simple moving average is $1.44.

Institutional Investors Weigh In On Metalpha Technology

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in Metalpha Technology by 42.2% in the first 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 last quarter. Renaissance Technologies LLC purchased a new stake in shares of Metalpha Technology in the 1st quarter valued at approximately $53,000. HRT Financial LP raised its holdings in shares of Metalpha Technology by 242.0% in the 4th quarter. HRT Financial LP now owns 35,763 shares of the company’s stock valued at $75,000 after purchasing an additional 25,305 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in shares of Metalpha Technology in the 2nd quarter valued at $100,000. Hedge funds and other institutional investors own 30.53% of the company’s stock.

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.