Metalpha Technology (NASDAQ:MATH) Announces Earnings Results

Metalpha Technology (NASDAQ:MATH) issued its earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, reports. The firm had revenue of $12.56 million for the quarter.

Metalpha Technology Stock Performance

Metalpha Technology stock traded down $0.06 during trading hours on Thursday, reaching $0.86. The stock had a trading volume of 17,196 shares, compared to its average volume of 32,439. The business’s 50 day moving average price is $0.97 and its 200-day moving average price is $1.16. Metalpha Technology has a 52 week low of $0.80 and a 52 week high of $4.10.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted 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 valued at $35,000 after acquiring an additional 6,040 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Metalpha Technology in the 1st quarter worth $53,000. HRT Financial LP grew its stake in Metalpha Technology by 242.0% during the 4th quarter. HRT Financial LP now owns 35,763 shares of the company’s stock worth $75,000 after buying an additional 25,305 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in Metalpha Technology during the 2nd quarter valued at about $100,000. Institutional investors own 30.53% of the company’s stock.

Analysts Set New Price Targets

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

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.