Metalpha Technology Holding Limited (MATH)
NASDAQ:MATH
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Metalpha Technology Holding
(NASDAQ:MATH)
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Rating:69Neutral
Price Target:
$2.00
▼(-31.03% Downside)
Action:ReiteratedDate:02/04/26
The score is driven by strong profitability and low financial leverage, supported by a very low P/E valuation. Offsetting these positives are weak cash flow quality and clearly bearish technicals, with the stock trading below key moving averages and negative MACD despite oversold readings.
Positive Factors
High profit margins
Sustained high gross and net margins indicate durable pricing power and cost efficiency in core operations. Over 2–6 months this supports cash generation potential, reinvestment into product development, and resilience to competitive pricing pressure, underpinning long-term profitability.
Negative Factors
Weak cash flow quality
Poor conversion of earnings into operating cash and negative FCF growth constrain liquidity and limit self-funding capacity for capex, working capital, or distributions. Over the coming months this raises reliance on external financing and heightens vulnerability to stress.
Read all positive and negative factors
Positive Factors
Negative Factors
High profit margins
Sustained high gross and net margins indicate durable pricing power and cost efficiency in core operations. Over 2–6 months this supports cash generation potential, reinvestment into product development, and resilience to competitive pricing pressure, underpinning long-term profitability.
Read all positive factors
Metalpha Technology Holding (MATH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$46.88M
Dividend YieldN/A
Average Volume (3M)64.99K
Price to Earnings (P/E)―
Beta (1Y)0.70
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees19
SectorFinancial
Sector Strength70
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)N/A
Shares Outstanding43,407,070
10 Day Avg. Volume107,650
30 Day Avg. Volume64,987
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)3.09
Price to Sales (P/S)3.11
P/FCF Ratio-4.49
Enterprise Value/Market Cap0.79
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-1.67
Enterprise Value/Ebitda-7.07
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Metalpha Technology Holding Business Overview & Revenue Model
Company Description
Metalpha Technology Holding Limited, together with its subsidiaries, provides wealth management services in Hong Kong. The company offers digital asset-based wealth management services, which include issuing traditional financial and cryptocurrenc...
How the Company Makes Money
Metalpha Technology Holding generates revenue through multiple key streams. Primarily, the company earns income from transaction fees associated with its cryptocurrency trading platforms, where users pay a percentage on trades executed. Additional...
Metalpha Technology Holding Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
75
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Sep 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 44.57M | 5.69M | 122.71K | 225.75K | 11.25K |
| Gross Profit | -22.11M | 21.30M | 2.02M | 46.93K | -213.00K | 11.25K |
| EBITDA | -5.21M | 16.13M | -11.59M | -9.13M | -622.49K | -1.36M |
| Net Income | 6.96M | 15.89M | -20.56M | -14.44M | -5.15M | -1.42M |
Balance Sheet | ||||||
| Total Assets | 413.77M | 246.77M | 56.08M | 24.34M | 15.63M | 9.96M |
| Cash, Cash Equivalents and Short-Term Investments | 413.36M | 20.70M | 9.47M | 5.29M | 982.54K | 15.93K |
| Total Debt | 118.45K | 212.69K | 133.28K | 368.75K | 4.06M | 63.53K |
| Total Liabilities | 378.71M | 210.21M | 47.48M | 10.14M | 7.08M | 2.59M |
| Stockholders Equity | 35.06M | 36.56M | 8.60M | 12.79M | 9.16M | 7.92M |
Cash Flow | ||||||
| Free Cash Flow | 1.91M | 24.68K | -1.14M | -5.15M | -3.10M | -1.44M |
| Operating Cash Flow | 1.96M | 71.99K | -1.14M | -4.86M | -3.10M | -1.44M |
| Investing Cash Flow | -14.05M | -23.31K | -20.42K | 422.89K | 1.29M | 739.30K |
| Financing Cash Flow | 1.83M | 2.11M | 2.60M | 8.98M | 3.03M | 258.26K |
Metalpha Technology Holding Technical Analysis
Negative
2.90
Price Trends
1.38
Negative
1.99
Negative
2.63
Negative
Market Momentum
-0.07
Negative
42.80
Neutral
29.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MATH, the sentiment is Negative. The current price of 2.9 is above the 20-day moving average (MA) of 1.16, above the 50-day MA of 1.38, and above the 200-day MA of 2.63, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 42.80 is Neutral, neither overbought nor oversold. The STOCH value of 29.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MATH.
Metalpha Technology Holding Risk Analysis
Metalpha Technology Holding disclosed 45 risk factors in its most recent earnings report. Metalpha Technology Holding reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Metalpha Technology Holding Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $46.88M | -13.04 | 19.45% | ― | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
52 Neutral | $291.48M | 39.13 | 2.41% | ― | -1.64% | 1966.67% | |
51 Neutral | $3.88M | 0.54 | -100.25% | ― | -63.27% | ― | |
49 Neutral | $225.50M | -6.36 | 6.23% | ― | ― | ― | |
44 Neutral | $89.31M | -0.37 | 110.96% | ― | -8.51% | 82.15% |
* Financial Sector Average
MATH
Metalpha Technology Holding
1.08
-0.49
-31.21%
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Metalpha Technology Holding Corporate Events
Metalpha Technology Completes $12 Million Private Placement
Dec 5, 2025
On December 5, 2025, Metalpha Technology Holding Limited announced the completion of a private placement transaction, initially disclosed on October 30, 2025. The company issued and sold 3,908,700 ordinary shares to Gortune International Investmen...
Metalpha Announces Board and Committee Changes Following Resignation
Nov 4, 2025
On October 31, 2025, Metalpha Technology Holding Limited announced the resignation of Mr. Kim Fung Lai from its board of directors and committees for personal reasons. The company appointed Mr. Kiyohiro Kawayanagi and Ms. Jingxin Tian to fill the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.