BM Technologies’ (BMTX) “Hold” Rating Reiterated at Maxim Group

Maxim Group reissued their hold rating on shares of BM Technologies (NYSE:BMTX) in a report released on Monday, Marketbeat.com reports.

BMTX has been the subject of several other reports. Northland Capmk raised shares of BM Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Northland Securities raised BM Technologies from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $3.50 to $5.40 in a report on Thursday, August 22nd.

BM Technologies Price Performance

NYSE:BMTX opened at $4.72 on Monday. The company has a market capitalization of $57.11 million, a P/E ratio of -4.58 and a beta of 0.24. The business has a fifty day simple moving average of $3.32 and a two-hundred day simple moving average of $2.79. BM Technologies has a 1 year low of $1.45 and a 1 year high of $4.86.

BM Technologies (NYSE:BMTX) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.23). BM Technologies had a negative return on equity of 39.27% and a negative net margin of 20.57%. The firm had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $13.73 million. As a group, analysts anticipate that BM Technologies will post -0.65 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BM Technologies stock. Renaissance Technologies LLC raised its stake in shares of BM Technologies, Inc. (NYSE:BMTX) by 323.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,106 shares of the company’s stock after purchasing an additional 102,406 shares during the quarter. Renaissance Technologies LLC owned 1.11% of BM Technologies worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 20.15% of the stock is currently owned by hedge funds and other institutional investors.

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.