BM Technologies (NYSE:BMTX) Downgraded to Hold Rating by Northland Capmk

Northland Capmk downgraded shares of BM Technologies (NYSE:BMTX) from a strong-buy rating to a hold rating in a report published on Monday morning, Zacks.com reports.

Several other research analysts also recently weighed in on BMTX. Northland Securities upgraded BM Technologies from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $3.50 to $5.40 in a research note on Thursday, August 22nd. Maxim Group restated a “hold” rating on shares of BM Technologies in a research report on Monday.

BM Technologies Price Performance

Shares of BMTX stock opened at $4.74 on Monday. The company has a market capitalization of $57.35 million, a price-to-earnings ratio of -4.60 and a beta of 0.24. The company’s fifty day moving average price is $3.35 and its 200-day moving average price is $2.80. BM Technologies has a one year low of $1.45 and a one year high of $4.86.

BM Technologies (NYSE:BMTX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.23). The business had revenue of $12.54 million for the quarter, compared to the consensus estimate of $13.73 million. BM Technologies had a negative net margin of 20.57% and a negative return on equity of 39.27%. Equities research analysts expect that BM Technologies will post -0.65 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. Renaissance Technologies LLC grew its position in shares of BM Technologies, Inc. (NYSE:BMTX) by 323.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 134,106 shares of the company’s stock after acquiring an additional 102,406 shares during the quarter. Renaissance Technologies LLC owned about 1.11% of BM Technologies worth $302,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 20.15% of the company’s stock.

BM Technologies Company Profile

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.