L1 Capital Pty Ltd. recently announced the acquisition of new stake in Urban Tea Inc. (NASDAQ:MYT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 242.47% to 6.25 million shares with purchase of 4.43 million shares. This fresh investment now brings its stake to 7.92% valued currently at $2.72 million. In addition, HRT Financial LLC raised its holdings by 73203.0 to 73203.0 shares. And Virtu Financial BD LLC has lifted its position by 131.22% or 18515.0 shares – to 32625.0 shares.

With over 1.69 million Urban Tea Inc. (MYT) shares trading Monday and a closing price of $1.81 on the day, the dollar volume was approximately $3.07 million. The shares have shown a negative weekly performance of -36.02% and its price on 08/31/20 lost nearly -4.23%. Currently, there are 3.13M common shares owned by the public and among those 3.06M shares have been available to trade.

Shares of Urban Tea Inc. (NASDAQ: MYT) opened at $1.87, down -$0.02 from a prior closing price of $1.89. However, the script later closed the day at $1.81, down -4.23%. The company’s stock has a 5-day price change of -36.02% and -69.32% over the past three months. MYT shares are trading -71.94% year to date (YTD), with the 12-month market performance down to -38.89% lower. It has a 12-month low price of $1.74 and touched a high of $14.60 over the same period. Currently, 1.69 million shares have been traded, compared to an average intraday trading volume of 516.76K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -47.29%, -64.50%, and -65.84% respectively.

Institutional ownership of Urban Tea Inc. (NASDAQ: MYT) shares accounts for 4.00% of the company’s 3.13M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

It has a market capitalization of $15.51M and a beta (3y monthly) value of 1.34. The earnings-per-share (ttm) stands at -$0.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.95% over the week and 11.33% over the month.