Currenc Group (NASDAQ:CURR) Trading Down 5.1% – Time to Sell?

Currenc Group Inc. (NASDAQ:CURR)’s stock price was down 5.1% on Thursday . The company traded as low as $3.14 and last traded at $3.34. Approximately 295,650 shares changed hands during trading, an increase of 233% from the average session volume of 88,889 shares. The stock had previously closed at $3.52.

Wall Street Analysts Forecast Growth

Separately, UBS Group began coverage on shares of Currenc Group in a research note on Wednesday, June 24th. They issued a “reduce” rating on the stock. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Currenc Group presently has an average rating of “Sell”.

Currenc Group Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $248.22 million, a P/E ratio of -10.80 and a beta of 0.14. The business has a fifty day moving average price of $3.04 and a 200-day moving average price of $2.67.

Institutional Trading of Currenc Group

A number of institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Currenc Group during the fourth quarter valued at approximately $31,000. XTX Topco Ltd lifted its position in Currenc Group by 66.5% during the fourth quarter. XTX Topco Ltd now owns 42,104 shares of the company’s stock valued at $75,000 after purchasing an additional 16,821 shares during the period. Kestra Advisory Services LLC purchased a new stake in Currenc Group in the first quarter worth approximately $152,000. Finally, Two Sigma Investments LP purchased a new stake in Currenc Group in the third quarter worth approximately $100,000. Hedge funds and other institutional investors own 56.01% of the company’s stock.

About Currenc Group

Currenc Group, Inc engages in operating a fintech banking platform. It operates through the following segments: Remittance Services, Sales of Airtime, and Other Services. The company is headquartered in Singapore.