Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $30.79 and last traded at $29.34, with a volume of 86530 shares changing hands. The stock had previously closed at $29.41.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Mercurity Fintech in a report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell".
Get Our Latest Stock Analysis on Mercurity Fintech
Mercurity Fintech Price Performance
The business's 50-day moving average is $8.24 and its two-hundred day moving average is $6.03.
Mercurity Fintech declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 22nd that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.
Institutional Investors Weigh In On Mercurity Fintech
Large investors have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new position in Mercurity Fintech during the second quarter worth $39,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Mercurity Fintech by 200.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 132,406 shares of the company's stock valued at $510,000 after purchasing an additional 88,265 shares during the last quarter. Marshall Wace LLP bought a new position in Mercurity Fintech during the second quarter worth about $100,000. New York State Common Retirement Fund acquired a new position in Mercurity Fintech during the second quarter worth approximately $95,000. Finally, Intech Investment Management LLC bought a new stake in Mercurity Fintech in the second quarter valued at approximately $73,000. Institutional investors and hedge funds own 30.82% of the company's stock.
Mercurity Fintech Company Profile
(
Get Free Report)
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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