Meten EdtechX Education Group Ltd. [METX] moved up 1.02: Why It’s Important

Meten EdtechX Education Group Ltd. [NASDAQ: METX] jumped around 0.02 points on Friday, while shares priced at $1.98 at the close of the session, up 1.02%. The company report on March 30, 2021 that Meten EdtechX Initiates Blockchain Technology Strategic Plan and to Introduce Dogecoin Reward Mechanism.

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Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Meten EdtechX” or the “Company”), a leading omnichannel English language training (“ELT”) service provider in China, announced that the Company has initiated its blockchain technology strategic plan (the “Plan”) and will introduce a Dogecoin reward mechanism on the platform of Likeshuo for foreign teachers. Dogecoin is the second largest cryptocurrency in the world after Bitcoin.

The Company has divided the Plan into three major stages:.

Meten EdtechX Education Group Ltd. stock is now -1.00% down from its year-to-date (YTD) trading value. METX Stock saw the intraday high of $2.46 and lowest of $1.89 per share. The company’s 52-week high price is 13.03, which means current price is +15.81% above from all time high which was touched on 02/05/21.

Compared to the average trading volume of 5.18M shares, METX reached a trading volume of 35504262 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Meten EdtechX Education Group Ltd. [METX]?

The Average True Range (ATR) for Meten EdtechX Education Group Ltd. is set at 0.24, with the Price to Sales ratio for METX stock in the period of the last 12 months amounting to 1.02.

How has METX stock performed recently?

Meten EdtechX Education Group Ltd. [METX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.16. With this latest performance, METX shares dropped by -30.28% in over the last four-week period, additionally sinking by -51.35% over the last 6 months – not to mention a drop of -84.29% 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 METX stock in for the last two-week period is set at 38.12, with the RSI for the last a single of trading hit 31.62, and the three-weeks RSI is set at 41.76 for Meten EdtechX Education Group Ltd. [METX]. The present Moving Average for the last 50 days of trading for this stock 2.4800, while it was recorded at 2.0760 for the last single week of trading, and 4.9472 for the last 200 days.

Meten EdtechX Education Group Ltd. [METX]: Deeper insight into the fundamentals

Meten EdtechX Education Group Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

Insider trade positions for Meten EdtechX Education Group Ltd. [METX]

There are presently around $3 million, or 7.50% of METX stock, in the hands of institutional investors. The top three institutional holders of METX stocks are: AMUNDI PIONEER ASSET MANAGEMENT INC with ownership of 520,000, which is approximately New of the company’s market cap and around 70.64% of the total institutional ownership; BOOTHBAY FUND MANAGEMENT, LLC, holding 500,000 shares of the stock with an approximate value of $0.99 million in METX stocks shares; and POLAR ASSET MANAGEMENT PARTNERS INC., currently with $0.23 million in METX stock with ownership of nearly New of the company’s market capitalization.

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9 institutional holders increased their position in Meten EdtechX Education Group Ltd. [NASDAQ:METX] by around 1,044,340 shares. Additionally, 4 investors decreased positions by around 4,755 shares, while 0 investors held positions by with 317,451 shares. The mentioned changes placed institutional holdings at 1,366,546 shares, according to the latest SEC report filing. METX stock had 5 new institutional investments in for a total of 769,891 shares, while 3 institutional investors sold positions of 3,677 shares during the same period.

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