BM Technologies (NYSE:BMTX) Trading Down 1.2% - Here's Why

BM Technologies, Inc. (NYSE:BMTX - Get Free Report) shares fell 1.2% during mid-day trading on Monday . The company traded as low as $4.71 and last traded at $4.74. 359,876 shares were traded during mid-day trading, an increase of 176% from the average session volume of 130,385 shares. The stock had previously closed at $4.80.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BMTX. Northland Capmk downgraded shares of BM Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Maxim Group reaffirmed a "hold" rating on shares of BM Technologies in a research note on Monday, October 28th. Finally, Northland Securities upgraded BM Technologies from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $3.50 to $5.40 in a research report on Thursday, August 22nd.

BM Technologies Price Performance

The company has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $3.42. The stock has a market cap of $57.71 million, a PE ratio of -4.30 and a beta of 0.18.

Institutional Trading of BM Technologies

A hedge fund recently raised its stake in BM Technologies stock. Geode Capital Management LLC increased its position in shares of BM Technologies, Inc. (NYSE:BMTX - Free Report) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,667 shares of the company's stock after purchasing an additional 4,031 shares during the period. Geode Capital Management LLC owned approximately 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.

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.