Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Get Free Report)'s share price rose 12% during trading on Tuesday . The stock traded as high as $19.91 and last traded at $20.32. Approximately 55,890 shares were traded during trading, a decline of 85% from the average daily volume of 376,425 shares. The stock had previously closed at $18.15.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Mercurity Fintech in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Mercurity Fintech has a consensus rating of "Sell".
Get Our Latest Stock Report on Mercurity Fintech
Mercurity Fintech Price Performance
The business has a fifty day simple moving average of $11.17 and a two-hundred day simple moving average of $6.98.
Mercurity Fintech declared that its board has authorized a share repurchase plan on Tuesday, July 22nd that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Mercurity Fintech in the second quarter worth about $28,000. Bank of America Corp DE bought a new position in shares of Mercurity Fintech in the second quarter worth about $39,000. Harvest Portfolios Group Inc. bought a new position in shares of Mercurity Fintech in the first quarter worth about $66,000. Intech Investment Management LLC bought a new position in shares of Mercurity Fintech in the second quarter worth about $73,000. Finally, New York State Common Retirement Fund bought a new position in shares of Mercurity Fintech in the second quarter worth about $95,000. Institutional investors 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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Mercurity Fintech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mercurity Fintech wasn't on the list.
While Mercurity Fintech currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
