Maxim Group Reiterates Hold Rating for BM Technologies (NYSE:BMTX)

BM Technologies (NYSE:BMTX)‘s stock had its “hold” rating reiterated by analysts at Maxim Group in a research report issued on Monday, Benzinga reports.

BMTX has been the topic of several other research reports. Northland Capmk upgraded BM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Northland Securities upgraded BM Technologies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $3.50 to $5.40 in a research note on Thursday, August 22nd.

BM Technologies Stock Performance

BMTX opened at $4.73 on Monday. BM Technologies has a 52-week low of $1.45 and a 52-week high of $4.86. The firm has a market capitalization of $57.06 million, a PE ratio of -4.68 and a beta of 0.24. The business’s 50-day simple moving average is $3.29 and its 200 day simple moving average is $2.77.

BM Technologies (NYSE:BMTX) last released its earnings results on Wednesday, August 14th. The company reported ($0.41) earnings per share (EPS) 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 company had revenue of $12.54 million for the quarter, compared to the consensus estimate of $13.73 million. On average, research analysts forecast that BM Technologies will post -0.65 earnings per share for the current year.

Hedge Funds Weigh In On BM Technologies

An institutional investor recently raised its position in BM Technologies stock. Renaissance Technologies LLC lifted its position in shares of BM Technologies, Inc. (NYSE:BMTX) by 323.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,106 shares of the company’s stock after purchasing an additional 102,406 shares during the period. Renaissance Technologies LLC owned 1.11% of BM Technologies worth $302,000 as of its most recent filing with the Securities and Exchange Commission. 20.15% of the stock is currently owned by institutional investors.

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.