BM Technologies (NYSE:BMTX) Trading Down 0.6% – Should You Sell?

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

Analysts Set New Price Targets

Several research firms recently commented on BMTX. Northland Capmk lowered shares of BM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Maxim Group restated a “hold” rating on shares of BM Technologies in a research note on Monday, October 28th.

BM Technologies Price Performance

The firm has a 50-day simple moving average of $4.79 and a 200-day simple moving average of $3.60. The firm has a market capitalization of $58.92 million, a PE ratio of -4.39 and a beta of 0.17.

Institutional Trading of BM Technologies

A hedge fund recently raised its stake 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 filing with the SEC. The institutional investor owned 134,106 shares of the company’s stock after buying an additional 102,406 shares during the quarter. Renaissance Technologies LLC owned approximately 1.11% of BM Technologies worth $302,000 at the end of the most recent quarter. 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.