QMMM (NASDAQ:QMMM) Stock Price Up 19.4% - Time to Buy?

Key Points

• QMMM shares rose 19.4% on Tuesday to $119.40, with about 773,300 shares traded after a prior close of $100.00.
• Analyst sentiment is negative — Weiss Ratings reissued a "Sell (e+)" and MarketBeat reports a consensus "Sell" rating (one analyst).
• Institutional buyers increased exposure in Q3, led by Anson Funds Management LP’s new stake of about $17,574,000, alongside several smaller new positions.

Shares of QMMM Holdings Limited (NASDAQ:QMMM - Get Free Report) rose 19.4% on Tuesday . The company traded as high as $119.40 and last traded at $119.40. Approximately 773,300 shares traded hands during mid-day trading, The stock had previously closed at $100.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of QMMM in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, QMMM currently has a consensus rating of "Sell".

QMMM Price Performance

The firm has a 50 day moving average price of $119.40 and a 200 day moving average price of $118.88.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Anson Funds Management LP bought a new position in shares of QMMM in the third quarter worth about $17,574,000. Y Intercept Hong Kong Ltd bought a new position in shares of QMMM in the third quarter worth about $294,000. Sage Mountain Advisors LLC bought a new position in shares of QMMM in the third quarter worth about $272,000. BNP Paribas Financial Markets bought a new position in shares of QMMM in the third quarter worth about $169,000. Finally, Squarepoint Ops LLC bought a new position in shares of QMMM in the third quarter worth about $341,000.

QMMM Company Profile

QMMM Holdings Ltd. engages in the provision of digital advertising services. It offers interactive design, animation, art-tech and virtual technologies used in commercial campaigns. It has worked with domestic and international banks, real estate developers, amusement parks, international athletic apparel, footwear brands, luxury cosmetic products, and international brands. The company was founded by Bun Kwai on July 29, 2022 and is headquartered in Hong Kong.

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