BM Technologies (NYSE:BMTX) Trading Down 6.9%

BM Technologies, Inc. (NYSE:BMTX)’s stock price traded down 6.9% during mid-day trading on Wednesday . The company traded as low as $2.50 and last traded at $2.57. 157,114 shares traded hands during mid-day trading, an increase of 59% from the average session volume of 98,786 shares. The stock had previously closed at $2.76.

Wall Street Analysts Forecast Growth

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $8.00 price objective on shares of BM Technologies in a research note on Monday, May 20th.

BM Technologies Trading Down 6.9 %

The stock has a market cap of $31.00 million, a P/E ratio of -2.54 and a beta of 0.26. The company has a 50-day moving average price of $2.38 and a two-hundred day moving average price of $2.16.

BM Technologies (NYSE:BMTX) last released its earnings results on Wednesday, May 15th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.21. The firm had revenue of $16.18 million for the quarter, compared to the consensus estimate of $15.33 million. BM Technologies had a negative return on equity of 33.46% and a negative net margin of 19.78%. As a group, equities analysts forecast that BM Technologies, Inc. will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BM Technologies

A hedge fund recently raised its stake in BM Technologies stock. Pacific Ridge Capital Partners LLC boosted its holdings in shares of BM Technologies, Inc. (NYSE:BMTX) by 40.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 645,768 shares of the company’s stock after acquiring an additional 185,626 shares during the quarter. Pacific Ridge Capital Partners LLC owned 5.44% of BM Technologies worth $1,324,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.15% of the company’s stock.

About BM Technologies

BM Technologies, Inc, a financial technology company, facilitates deposits and banking services between a customer and its partner banks in the United States. It offers digital banking and disbursement services to consumers and students through a full service fintech banking platform. The company was formerly known as BankMobile Technologies, Inc and changed its name to BM Technologies, Inc in January 2021.