Metalpha Technology Holding Limited (NASDAQ:MATH) Sees Significant Decline in Short Interest

Key Points

• Metalpha Technology Holding Limited (NASDAQ:MATH) experienced a 29.3% decline in short interest as of September 30th, reducing the total to 193,300 shares.
• Weiss Ratings maintained a "hold" rating on Metalpha Technology shares, reflecting a consensus average rating of "Hold" among analysts.
• Recent trading figures show Metalpha's stock price at $3.11 with a significant increase in institutional investment, including a 714.4% increase in holdings by FNY Investment Advisers LLC.

Metalpha Technology Holding Limited (NASDAQ:MATH - Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 193,300 shares, a drop of 29.3% from the September 15th total of 273,400 shares. Based on an average trading volume of 185,700 shares, the short-interest ratio is currently 1.0 days. Approximately 0.9% of the shares of the company are sold short. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 185,700 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Metalpha Technology in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".

Metalpha Technology Stock Performance

MATH traded up $0.22 during trading on Thursday, hitting $3.11. 40,845 shares of the company traded hands, compared to its average volume of 182,388. The stock's 50-day simple moving average is $3.28 and its two-hundred day simple moving average is $2.97. Metalpha Technology has a 1 year low of $0.88 and a 1 year high of $4.17.

Hedge Funds Weigh In On Metalpha Technology

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC purchased a new position in Metalpha Technology during the second quarter valued at $100,000. FNY Investment Advisers LLC increased its holdings in shares of Metalpha Technology by 714.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 157,229 shares of the company's stock worth $503,000 after buying an additional 137,923 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Metalpha Technology by 42.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company's stock worth $35,000 after buying an additional 6,040 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Metalpha Technology in the 1st quarter worth about $38,000. 30.53% of the stock is owned by hedge funds and other 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.

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