Shares of MMTec, Inc. (NASDAQ:MTC – Get Free Report) traded down 15.1% during mid-day trading on Tuesday . The company traded as low as $3.31 and last traded at $3.33. 33,053 shares traded hands during trading, an increase of 5% from the average daily volume of 31,472 shares. The stock had previously closed at $3.92.
Analyst Ratings Changes
A number of analysts have commented on the company. Wall Street Zen raised MMTec to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings restated a “sell (e+)” rating on shares of MMTec in a report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.
MMTec Price Performance
Institutional Investors Weigh In On MMTec
Several institutional investors and hedge funds have recently added to or reduced their stakes in MTC. Renaissance Technologies LLC purchased a new position in shares of MMTec in the 4th quarter worth approximately $92,000. Marex Group plc purchased a new stake in shares of MMTec during the second quarter valued at approximately $36,000. Finally, Susquehanna International Group LLP increased its position in shares of MMTec by 648.5% during the third quarter. Susquehanna International Group LLP now owns 89,595 shares of the company’s stock valued at $74,000 after acquiring an additional 77,625 shares during the last quarter. Hedge funds and other institutional investors own 0.25% of the company’s stock.
About MMTec
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.
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