Short Interest in Metalpha Technology Holding Limited (NASDAQ:MATH) Declines By 14.3%

Key Points

• Short interest fell 14.3% to 32,739 shares as of March 31, equal to about 0.1% of the stock and a short-interest ratio of 0.9 days.
• Analyst sentiment is negative: Weiss Ratings downgraded MATH from "hold (c-)" to "sell (d+)" and MarketBeat shows an average rating of "Sell."
• Stock and institutional activity: MATH rallied 23.6% to $1.36 on heavy volume (406,755 shares vs. a 56,459 average) while institutions own ~30.5% of shares, with recent stake increases from Geode, HRT Financial and Goldman Sachs.

Metalpha Technology Holding Limited (NASDAQ:MATH - Get Free Report) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totaling 32,739 shares, a decrease of 14.3% from the March 15th total of 38,212 shares. Based on an average trading volume of 35,103 shares, the short-interest ratio is presently 0.9 days. Approximately 0.1% of the company's stock are sold short.

Institutional Trading of Metalpha Technology

Several institutional investors have recently added to or reduced their stakes in MATH. Geode Capital Management LLC purchased a new position in shares of Metalpha Technology in the 2nd quarter worth $100,000. HRT Financial LP boosted its stake in shares of Metalpha Technology by 242.0% in the 4th quarter. HRT Financial LP now owns 35,763 shares of the company's stock worth $75,000 after buying an additional 25,305 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Metalpha Technology by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 79,344 shares of the company's stock worth $167,000 after buying an additional 8,353 shares during the last quarter. 30.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Metalpha Technology from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 6th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Metalpha Technology currently has an average rating of "Sell".

Metalpha Technology Stock Up 23.6%

MATH stock traded up $0.26 on Friday, reaching $1.36. 406,755 shares of the company traded hands, compared to its average volume of 56,459. Metalpha Technology has a one year low of $1.00 and a one year high of $4.17. The firm has a fifty day simple moving average of $1.19 and a 200-day simple moving average of $2.18.

Metalpha Technology (NASDAQ:MATH - Get Free Report) last posted its quarterly earnings data on Friday, February 20th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $12.02 million during the quarter.

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. It serves institutional investors and high-net-worth individuals.

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