BM Technologies (NYSE:BMTX) Trading Up 1.4%

Shares of BM Technologies, Inc. (NYSE:BMTX) were up 1.4% during mid-day trading on Monday . The company traded as high as $3.27 and last traded at $3.21. Approximately 8,500 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 114,107 shares. The stock had previously closed at $3.16.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BMTX shares. Chardan Capital reiterated a “buy” rating and issued a $8.00 price target on shares of BM Technologies in a research note on Monday, May 20th. Northland Securities upgraded BM Technologies from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $3.50 to $5.40 in a research report on Thursday, August 22nd. Finally, Northland Capmk upgraded BM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd.

BM Technologies Price Performance

The stock has a market cap of $38.67 million, a PE ratio of -3.17 and a beta of 0.23. The stock has a 50-day moving average price of $2.81 and a two-hundred day moving average price of $2.39.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in BM Technologies stock. Renaissance Technologies LLC raised its holdings in shares of BM Technologies, Inc. (NYSE:BMTX) by 323.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,106 shares of the company’s stock after buying an additional 102,406 shares during the period. Renaissance Technologies LLC owned about 1.11% of BM Technologies worth $302,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.