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

Key Points

• Metalpha Technology Holding Limited experienced a significant increase in short interest, rising 59.8% to 273,400 shares as of September 15th.
• The company's stock traded at $3.88, showing a notable performance with a 12-month trading range between $0.88 and $4.17.
• Institutional ownership stands at 30.53%, with notable investments from firms like Geode Capital Management and Goldman Sachs, indicating strong institutional interest.

Metalpha Technology Holding Limited (NASDAQ:MATH - Get Free Report) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 273,400 shares, a growth of 59.8% from the August 31st total of 171,100 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 171,100 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 171,100 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.2% of the shares of the stock are short sold.

Metalpha Technology Stock Performance

NASDAQ MATH traded up $0.12 on Monday, reaching $3.88. The company had a trading volume of 211,321 shares, compared to its average volume of 180,012. The firm's 50 day moving average price is $3.22 and its 200 day moving average price is $2.85. Metalpha Technology has a 12 month low of $0.88 and a 12 month high of $4.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC purchased a new position in Metalpha Technology during the 2nd quarter worth $100,000. FNY Investment Advisers LLC raised its holdings in shares of Metalpha Technology by 714.4% in 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 in the last quarter. Goldman Sachs Group Inc. lifted its stake in Metalpha Technology by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 20,346 shares of the company's stock worth $35,000 after acquiring an additional 6,040 shares during the period. Finally, XTX Topco Ltd bought a new position in Metalpha Technology during the 1st quarter worth about $38,000. Institutional investors own 30.53% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Metalpha Technology in a research report on Saturday, September 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold".

Metalpha Technology Company Profile

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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