Metalpha Technology (NASDAQ:MATH) Shares Up 3.7% – Should You Buy?

Metalpha Technology Holding Limited (NASDAQ:MATH) traded up 3.7% on Wednesday . The company traded as high as $2.82 and last traded at $2.80. 77,542 shares were traded during trading, a decline of 56% from the average session volume of 177,192 shares. The stock had previously closed at $2.70.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Metalpha Technology in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Metalpha Technology currently has an average rating of “Hold”.

Metalpha Technology Trading Up 3.7%

The firm has a 50-day moving average of $3.27 and a 200-day moving average of $3.12.

Institutional Investors Weigh In On Metalpha Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Metalpha Technology during the 1st quarter valued at $38,000. FNY Investment Advisers LLC raised its stake in shares of Metalpha Technology by 714.4% during the second quarter. FNY Investment Advisers LLC now owns 157,229 shares of the company’s stock valued at $503,000 after acquiring an additional 137,923 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Metalpha Technology by 42.2% during the first quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company’s stock worth $35,000 after purchasing an additional 6,040 shares during the period. Finally, Geode Capital Management LLC bought a new stake in shares of Metalpha Technology in the second quarter worth about $100,000. 30.53% of the stock is currently owned by institutional investors.

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.