Mmtec Inc. [NASDAQ: MTC] plunged by -$0.51 during the normal trading session on Thursday and reaching a high of $3.50 during the day while it closed the day at $2.94. The company report on February 22, 2021 that MMTEC, Inc. Announces Entry Into Agreement for Registered Direct Placement of $15.9 Million of Common Shares.
MMTEC, Inc. (NASDAQ: MTC) (“MMTEC”, “we”, “our” or the “Company”), a China-based technology company that provides access to the U.S. financial markets, announced it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 4,300,000 common shares at a purchase price of $3.70 per share in a registered direct offering. The gross proceeds of the offering will be approximately $15.9 million before deducting placement agent fees and other estimated offering expenses. The closing of the offering is expected to occur on or about February 24, 2021, subject to the satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.
Mmtec Inc. stock has also loss -24.81% of its value over the past 7 days. However, MTC stock has inclined by 171.95% in the 3 months of the year. Over the past six months meanwhile, it has gained 192.54% and gained 100.00% year-on date.
The market cap for MTC stock reached $52.95 million, with 20.07 million shares outstanding and 7.73 million shares in the current float. Compared to the average trading volume of 4.60M shares, MTC reached a trading volume of 1016535 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Mmtec Inc. [MTC]:
The Average True Range (ATR) for Mmtec Inc. is set at 0.69, with the Price to Sales ratio for MTC stock in the period of the last 12 months amounting to 132.37. The Price to Book ratio for the last quarter was 15.47, with the Price to Cash per share for the same quarter was set at 0.10.
MTC stock trade performance evaluation
Mmtec Inc. [MTC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.81. With this latest performance, MTC shares gained by 34.86% in over the last four-week period, additionally plugging by 192.54% over the last 6 months – not to mention a rise of 83.75% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MTC stock in for the last two-week period is set at 50.12, with the RSI for the last a single of trading hit 45.74, and the three-weeks RSI is set at 52.46 for Mmtec Inc. [MTC]. The present Moving Average for the last 50 days of trading for this stock 2.25, while it was recorded at 3.65 for the last single week of trading, and 1.59 for the last 200 days.
Mmtec Inc. [MTC]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Mmtec Inc. [MTC] shares currently have an operating margin of -1464.55 and a Gross Margin at +41.87. Mmtec Inc.’s Net Margin is presently recorded at -1117.17.
Return on Total Capital for MTC is now -111.01, given the latest momentum, and Return on Invested Capital for the company is -90.48. Return on Equity for this stock declined to -104.08, with Return on Assets sitting at -68.27. When it comes to the capital structure of this company, Mmtec Inc. [MTC] has a Total Debt to Total Equity ratio set at 20.77. Additionally, MTC Total Debt to Total Capital is recorded at 17.20, with Total Debt to Total Assets ending up at 15.91. Long-Term Debt to Equity for the company is recorded at 13.64, with the Long-Term Debt to Total Capital now at 11.29.
Receivables Turnover for the company is 1.36 with a Total Asset Turnover recorded at a value of 0.06.Mmtec Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.00.
Mmtec Inc. [MTC]: Insider Ownership positions
There are presently around $0 million, or 1.20% of MTC stock, in the hands of institutional investors. The top three institutional holders of MTC stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 93,970, which is approximately New of the company’s market cap and around 62.85% of the total institutional ownership; CITADEL ADVISORS LLC, holding 38,710 shares of the stock with an approximate value of $0.11 million in MTC stocks shares; and HRT FINANCIAL LP, currently with $61000.0 in MTC stock with ownership of nearly -79.007% of the company’s market capitalization.
2 institutional holders increased their position in Mmtec Inc. [NASDAQ:MTC] by around 106,764 shares. Additionally, 3 investors decreased positions by around 85,100 shares, while 0 investors held positions by with 25,575 shares. The mentioned changes placed institutional holdings at 166,289 shares, according to the latest SEC report filing. MTC stock had 2 new institutional investments in for a total of 106,764 shares, while 1 institutional investors sold positions of 848 shares during the same period.