BM Technologies (NYSE:BMTX) Stock Price Down 0.6% – Here’s What Happened

BM Technologies, Inc. (NYSE:BMTX) shares fell 0.6% during trading on Tuesday . The stock traded as low as $4.86 and last traded at $4.87. Approximately 768,236 shares were traded during trading, an increase of 87% from the average daily volume of 410,434 shares. The stock had previously closed at $4.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BMTX shares. Northland Capmk downgraded BM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Maxim Group reaffirmed a “hold” rating on shares of BM Technologies in a report on Monday, October 28th.

BM Technologies Stock Performance

The business’s fifty day moving average price is $4.79 and its two-hundred day moving average price is $3.60. The stock has a market capitalization of $58.92 million, a P/E ratio of -4.39 and a beta of 0.17.

Hedge Funds Weigh In On BM Technologies

A hedge fund recently raised its stake in BM Technologies stock. Renaissance Technologies LLC boosted its holdings in shares of BM Technologies, Inc. (NYSE:BMTX) by 323.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,106 shares of the company’s stock after acquiring 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 SEC filing. 20.15% of the stock is currently owned by institutional investors and hedge funds.

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.