Wilfred Zhongkei Daye Sells 1,195 Shares of Mercurity Fintech (NASDAQ:MFH) Stock

Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH) insider Wilfred Zhongkei Daye sold 1,195 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $14.87, for a total value of $17,769.65. Following the transaction, the insider directly owned 40,470 shares of the company’s stock, valued at $601,788.90. The trade was a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Wilfred Zhongkei Daye also recently made the following trade(s):

• On Thursday, October 16th, Wilfred Zhongkei Daye sold 2,170 shares of Mercurity Fintech stock. The stock was sold at an average price of $11.37, for a total value of $24,672.90.

Mercurity Fintech Price Performance

MFH opened at $12.70 on Friday. Mercurity Fintech Holding Inc. Sponsored ADR has a 12 month low of $1.03 and a 12 month high of $36.77. The business has a fifty day moving average price of $12.07 and a 200 day moving average price of $7.22.

Mercurity Fintech declared that its board has approved a stock buyback program on Tuesday, July 22nd that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercurity Fintech in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in shares of Mercurity Fintech by 671.0% during the 1st quarter. Millennium Management LLC now owns 797,099 shares of the company’s stock worth $4,272,000 after acquiring an additional 693,720 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Mercurity Fintech by 1,103.8% during the 2nd quarter. Geode Capital Management LLC now owns 429,832 shares of the company’s stock worth $1,655,000 after acquiring an additional 394,126 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Mercurity Fintech by 120.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 147,118 shares of the company’s stock valued at $789,000 after purchasing an additional 80,452 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Mercurity Fintech by 200.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 132,406 shares of the company’s stock valued at $510,000 after purchasing an additional 88,265 shares during the period. Finally, Invesco Ltd. acquired a new stake in shares of Mercurity Fintech in the 1st quarter valued at about $271,000. 30.82% of the stock is owned by institutional investors and hedge funds.

About Mercurity Fintech

Mercurity Fintech Holding Inc operates as a fintech company powered by blockchain. The company provides digital asset trading infrastructure solutions based on internet and blockchain technologies for cryptocurrency traders; and asset digitalization platform, which offers blockchain-based digitalization solutions for traditional assets, such as fiat currencies, bonds, and precious metals.