The trading price of Mmtec Inc (NASDAQ:MTC) closed higher on Tuesday, October 29, and closing at $0.41, 0.37% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $0.3911 and $0.4297. In examining the 52-week price action we see that the stock hit a 52-week high of $12.90 and a 52-week low of $0.24. Over the past month, the stock has lost -21.08% in value.
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Mmtec Inc, whose market valuation is $81.21 million at the time of this writing, is expected to release its quarterly earnings report in November. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest MTC has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Sell.
A quick review shows that MTC’s price is currently -9.38% off the SMA20 and 13.99% off the SMA50. The RSI metric on the 14-day chart is currently showing 51.12, and weekly volatility stands at 9.13%. When measured over the past 30 days, the indicator reaches 15.99%. Mmtec Inc (NASDAQ:MTC)’s beta value is currently sitting at 0.90, while the Average True Range indicator is currently displaying 0.06.
To see how Mmtec Inc stock has been performing in comparison to its peers in the industry, here are the numbers: MTC stock’s performance was 0.37% in the latest trading, and -61.53% in the past year.
An evaluation of the daily trading volume of Mmtec Inc (NASDAQ:MTC) indicates that the 3-month average is 4.73 million. However, this figure has increased over the past 10 days to an average of 1.72.
Currently, records show that 199.15 million of the company’s shares remain outstanding. The insiders hold 0.18% of outstanding shares, whereas institutions hold 0.34%. The stats also highlight that short interest as of 2024-10-15, stood at 2.17 million shares, resulting in a short ratio of 0.19 at that time. From this, we can conclude that short interest is 109.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 1.19 million. However, since the stock’s price has seen -59.22% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
