Mercurity Fintech (NASDAQ:MFH) Insider Wilfred Zhongkei Daye Sells 1,000 Shares

Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH) insider Wilfred Zhongkei Daye sold 1,000 shares of Mercurity Fintech stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $11.98, for a total value of $11,980.00. Following the completion of the transaction, the insider owned 36,800 shares in the company, valued at approximately $440,864. This represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, October 17th, Wilfred Zhongkei Daye sold 500 shares of Mercurity Fintech stock. The shares were sold at an average price of $12.60, for a total value of $6,300.00.
• 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.
• On Wednesday, October 15th, Wilfred Zhongkei Daye sold 1,195 shares of Mercurity Fintech stock. The stock was sold at an average price of $14.87, for a total value of $17,769.65.

Mercurity Fintech Trading Up 4.7%

Shares of MFH stock opened at $12.46 on Wednesday. Mercurity Fintech Holding Inc. Sponsored ADR has a fifty-two week low of $1.03 and a fifty-two week high of $36.77. The stock has a 50 day moving average price of $12.41 and a two-hundred day moving average price of $7.33.

Mercurity Fintech announced that its board has approved a share buyback plan on Tuesday, July 22nd that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to repurchase up to 7.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Mercurity Fintech

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its stake 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 valued at $4,272,000 after purchasing an additional 693,720 shares in the last quarter. Geode Capital Management LLC raised its stake in Mercurity Fintech by 1,103.8% in the second quarter. Geode Capital Management LLC now owns 429,832 shares of the company’s stock worth $1,655,000 after buying an additional 394,126 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Mercurity Fintech by 120.7% in the first quarter. Goldman Sachs Group Inc. now owns 147,118 shares of the company’s stock worth $789,000 after buying an additional 80,452 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mercurity Fintech by 200.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 132,406 shares of the company’s stock worth $510,000 after buying an additional 88,265 shares during the period. Finally, Invesco Ltd. bought a new stake in Mercurity Fintech during the 1st quarter valued at approximately $271,000. 30.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Mercurity Fintech Company Profile

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.