Short Interest in MMTec, Inc. (NASDAQ:MTC) Declines By 58.5%

MMTec, Inc. (NASDAQ:MTC) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 31,700 shares, a drop of 58.5% from the September 15th total of 76,300 shares. Based on an average daily trading volume, of 275,600 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 275,600 shares, the short-interest ratio is presently 0.1 days.

MMTec Stock Performance

Shares of MTC opened at $0.91 on Tuesday. The company’s fifty day moving average is $0.91 and its 200 day moving average is $0.97. MMTec has a fifty-two week low of $0.76 and a fifty-two week high of $3.52.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of MMTec in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MMTec stock. Marex Group plc acquired a new stake in shares of MMTec, Inc. (NASDAQ:MTC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 34,212 shares of the company’s stock, valued at approximately $36,000. Marex Group plc owned about 0.14% of MMTec as of its most recent SEC filing. 0.25% of the stock is owned by hedge funds and other institutional investors.

MMTec Company Profile

MMTec, Inc, together with its subsidiaries, develops and deploys platforms that enable financial institutions to engage in securities market transactions and settlements worldwide. The company operates in two segments, Gujia and MM Global. It offers Internet-based securities solutions comprising Securities Dealers Trading System, which supports securities registration and clearing, account management, risk management, trading and execution, and third party access middleware; Private Fund Investment Management System that supports multi-account management, fund valuation, risk management, quantitative trading access, liquidation, and requisition management; and Mobile Transaction Individual Client System and PC Client System for Apple IOS, Android, PC, and Web applications.