Insider Selling: Mercurity Fintech (NASDAQ:MFH) Insider Sells 1,000 Shares of Stock

Key Points

• Wilfred Zhongkei Daye, an insider at Mercurity Fintech, sold 1,000 shares at an average price of $11.98 on October 20, reducing his stake by 2.65% to 36,800 shares.
• The company's stock performance showed a trading volume of 208,809 shares and reached $12.46, with a notable 52-week range between $1.03 and $36.77.
• Mercurity Fintech announced a $10 million share buyback plan, indicating that the company's leadership believes its stock might be undervalued.

Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Get Free Report) insider Wilfred Zhongkei Daye sold 1,000 shares of the company's stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $11.98, for a total transaction of $11,980.00. Following the transaction, the insider directly owned 36,800 shares of the company's stock, valued at $440,864. This represents a 2.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 transaction of $6,300.00.
• On Thursday, October 16th, Wilfred Zhongkei Daye sold 2,170 shares of Mercurity Fintech stock. The shares were sold at an average price of $11.37, for a total transaction of $24,672.90.
• On Wednesday, October 15th, Wilfred Zhongkei Daye sold 1,195 shares of Mercurity Fintech stock. The shares were sold at an average price of $14.87, for a total transaction of $17,769.65.

Mercurity Fintech Stock Performance

NASDAQ MFH traded up $0.56 on Tuesday, reaching $12.46. The company's stock had a trading volume of 208,809 shares, compared to its average volume of 380,723. The business has a 50-day moving average price of $12.24 and a 200 day moving average price of $7.30. Mercurity Fintech Holding Inc. Sponsored ADR has a 52 week low of $1.03 and a 52 week high of $36.77.

Mercurity Fintech announced that its board has authorized a share buyback plan on Tuesday, July 22nd that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Mercurity Fintech

Several large investors have recently added to or reduced their stakes in MFH. Y Intercept Hong Kong Ltd grew its stake in Mercurity Fintech by 146.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 30,051 shares of the company's stock worth $161,000 after buying an additional 17,856 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Mercurity Fintech during the first quarter worth approximately $271,000. Harvest Portfolios Group Inc. acquired a new position in shares of Mercurity Fintech during the first quarter worth approximately $66,000. OMERS ADMINISTRATION Corp lifted its position in shares of Mercurity Fintech by 122.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 44,175 shares of the company's stock worth $237,000 after purchasing an additional 24,275 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Mercurity Fintech during the first quarter worth approximately $237,000. 30.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.

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