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Tag: Mmtec Stock

  • Early Morning Vibes: Top 4 Stocks To Buy Right Now

    Early Morning Vibes: Top 4 Stocks To Buy Right Now

    On February 18, American stock indices ended in the red. The S&P 500 index fell 0.44% to 3914 points, the Dow Jones fell 0.38%, the NASDAQ fell 0.72%, losing more than 1.5% during the session. The reason for the correction was the data on the growth in the number of applications for unemployment benefits, as well as the flow of capital into cyclical sectors. Thus, the consumer goods segment traded better than the market, ending the day with a result of + 0.14%. The energy sector corrected by 2.27%.

    Company news

    Software developer Twilio (TWLO: + 7.7%) posted strong quarterly results, with revenue growth exceeding expectations.

    Walmart’s comparable sales (WMT: -6.5%) were better than the consensus, but investors were disappointed by the weak EPS performance and the forecast that the retailer’s capex will increase from $ 10 billion to $ 14 billion this year.

    Revenue and EBITDA of lithium supplier Albemarle (ALB: -10.2%) exceeded investor expectations, but the company’s forecasts were not strong enough.

    Today, global stock markets are showing mixed dynamics. Investors continue to assess the potential impact of rising bond yields on the stock market. The 10-year Treasury yield climbed to the February 2020 level. From the point of view of corporate finance, in this situation, the discount rate increases, which ultimately reduces the fair value of the shares. At the same time, an increase in the yield of government bonds reflects an improvement in economic prospects, so there is no consensus among the investment community regarding the impact of this factor on the market.

    The current consensus on the fiscal stimulus package suggests that it will be approved in mid-March in the amount of about $ 1.5 trillion. Moreover, after the adoption of this package, all attention will be focused on infrastructure government spending, the project of which will be presented next month. Their estimated volume is $ 2 trillion. Rumors regarding this bill are already beginning to influence the market.

    The Freedom Finance Sentiment Index climbed to 80 out of 100. The indicator reflects market participants’ hope for a global economic recovery in 2021. Concerns about the negative impact of the coronavirus pandemic are gradually diminishing thanks to the prospect of mass vaccinations.

    Technically, the S&P 500 is still in an uptrend, the upper bound of which limits the upside potential of the broad market index. The previous trading session did not change the overall picture too much. In the short term, correction or consolidation is likely, as a bearish divergence is being formed on the RSI indicator.

    Today Top Movers

    Zynga Inc. (ZNGA) stock soared 1.16% to $12.24 in pre-market trading.‎ ZNGA is a global leader in interactive entertainment Games recently announced Star Wars: Hunters, a competitive arena combat game.

    Cuentas Inc. (NASDAQ: CUEN) shares are trading up 46.01% at $5.49 at the time of writing. ‎CUEN is a leading FinTech provider of mobile banking and payment solutions focused on Hispanic and Latino communities. ‎

    ‎Mmtec Inc. (MTC) grew over 80.31% at $7.05 in pre-market trading today. MTC is a company that develops and deploys platforms that enable financial institutions to engage in securities market transactions and settlements.

    ‎Citius Pharmaceuticals Inc. (CTXR), a Biotechnology company, rose about 26.92% at $1.98 in pre-market trading Friday after declaring a $76.5 million registered direct offering priced at-the-market under Nasdaq Rules.‎

    Top Upgrades & Downgrades

    Roth Capital turned bullish on Coeur Mining Inc. (CDE), upgrading the stock to “Buy” and assigning a $10.0 price target, representing a potential upside of 19.19% from Thursday’s close. 

    Sabre Corporation (SABR) has won the favor of Deutsche Bank’s equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $17.0, suggesting 33.65% additional upside for the stock. 

    Everbridge Inc. (EVBG) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $200.0. They changed their rating on EVBG to Overweight from Neutral in a recently issued research note. 

    Earlier Friday Mizuho reduced its rating on Sunoco LP (SUN) stock to Neutral from Buy and assigned the price target to $33.0. With shares trading at around $30.58, the Wall Street firm thinks Sunoco LP’s stock could add than 7.63%. 

    Deutsche Bank analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for eHealth Inc. (EHTH) has been changed to Hold from Buy and the new price target is set at $63.0. 

    Analysts at JP Morgan downgraded The Kraft Heinz Company (KHC)’s stock to Neutral from Overweight Friday.

    Latest Insider Activity

    Twitter Inc. (TWTR) Chief Legal Officer Gadde Vijaya announced the sale of shares taking place on Feb 16 at $72.03 for some 14,940 shares. The total came to more than $1.08 million. 

    Inovio Pharmaceuticals Inc. (INO) Director BENITO SIMON X sold on Feb 16 a total of 51,650 shares at $14.68 on average. The insider’s sale generated proceeds of almost $29360. 

    Hepion Pharmaceuticals Inc. (HEPA) Chief Financial Officer Cavan John T declared the purchase of shares taking place on Feb 18 at $2.00 for some 10,000 shares. The transaction amount was around $20000. 

    United States Steel Corporation (X) Director Atkinson Tracy A bought on Feb 16 a total 17,177 shares at $17.07 on average. The purchase cost the insider an estimated $25,059.

    Important Earnings

    Top US earnings releases scheduled for today include MoneyGram International Inc. (NASDAQ: MGI). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.08 per share from revenues of $326.62M in the three-month period. 

    Analysts expect Deere & Company (NYSE: DE) to report a net income (adjusted) of $2.16 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jan 2021 is predicted to come in at $7.21B. 

    Enerplus Corporation (ERF), due to announce earnings before the market opens today, is expected to report earnings of $0.22 per share from revenues of $241.79M recently concluded three-month period.

  • Mmtec (MTC): The Penny stock that Traders fancy

    Mmtec (MTC): The Penny stock that Traders fancy

    The Chinese internet-based tech firm has been on traders’ radar recently, making significant movements.

    Mmtec, Inc. (MTC) shares have been on a bumpy ride as the traders seem to enjoy making profits out of the stock. MTC stock has been trading on the higher side in the past few months. Mmtec made some notable movements in the past month soaring as high as $2.60.

    With no news in the market, Mmtec continues to be a favorite bet for traders—as the average volume is just below 3.5 million. It has been more than half a year when the company updated with its first six months outcomes of 2020.

    What’s Next?

    Mmtec, Inc. (MTC) is a Chinese-based firm that provides online trading services. The company offers digital-tech services and solutions in securities market transactions. The consumers of the company are from financial backgrounds including investment advisors, brokerage firms, and proprietary trading groups—all over the world.

    Mmtec shares surged from under the $1 per share in early November last year and have traded in the $1 and $2.5 range—in the meantime. While over the past 12-months period the stock has traded between $0.6400 – $7.700.

    In December, Mmtec shares surged over 50%, whereas since September the stock has rallied up to 200%. The major reason why investors are driven towards the financial services platform is Mmtec’splacement in the online tech services and solutions market.

    The renowned Chinese financial firms that use its solutions include ETN Counter Business System, Personal Mobile Transaction Client System, PTN Private Mutual Fund Investment Management System, and others.

    The company went public on the US stock in Jan. 2019. So, it’s fairly new—to the surprise, it’s one of the highly traded stocks in the market, today. This shows that investors are pretty optimistic as we head forward.

    All this bullish sentiment is based on the first half reports that the company published back in 2020. With high expectations, the company reported promising outcomes that attracted investors—playing an integral part in the shares price jump, in September. Mmtec reported revenue of $329,070, approximately up by 85%. While the cost of revenue dropped by more than 80%.

    The company was successful in lowering its operational losses by 30% to $1.04 million in the first half of 2020. That was a big boost amid the pandemic crisis.

    Conclusion

    Mmtec, Inc. (MTC) believes that Chinese investors would be keener to adapt its services for investing in US-based assets. At the mid-year 2020, the company was assuming good US-China relations, predicating Joe Biden to grab the Presidential position. Since then, the assumptions have come true and the US-China trade war seems to ease off. In recent days, there has been much happening in the US market—the GameStop show. So, we need to hear from the company as it updates on the full-year results.