BM Technologies (NYSE:BMTX) Shares Down 1.2% – What’s Next?

BM Technologies, Inc. (NYSE:BMTX)’s stock price dropped 1.2% on Monday . The stock traded as low as $4.71 and last traded at $4.74. Approximately 359,876 shares were traded during trading, an increase of 176% from the average daily volume of 130,385 shares. The stock had previously closed at $4.80.

Wall Street Analysts Forecast Growth

BMTX has been the topic of a number of research analyst reports. Maxim Group restated a “hold” rating on shares of BM Technologies in a report on Monday, October 28th. Northland Capmk cut BM Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Northland Securities upgraded BM Technologies from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $3.50 to $5.40 in a report on Thursday, August 22nd.

BM Technologies Trading Down 1.2 %

The company has a market capitalization of $57.35 million, a P/E ratio of -4.27 and a beta of 0.18. The firm’s 50 day moving average price is $4.38 and its two-hundred day moving average price is $3.41.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BM Technologies stock. Geode Capital Management LLC lifted its holdings in shares of BM Technologies, Inc. (NYSE:BMTX) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,667 shares of the company’s stock after buying an additional 4,031 shares during the period. Geode Capital Management LLC owned about 0.80% of BM Technologies worth $329,000 at the end of the most recent quarter. 20.15% of the stock is 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.