Marqeta Target of Unusually High Options Trading (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders bought 3,243 call options on the stock. This represents an increase of approximately 238% compared to the average volume of 959 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Congress Asset Management Co. grew its position in shares of Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company's stock valued at $5,194,000 after purchasing an additional 336,349 shares in the last quarter. Castleview Partners LLC purchased a new position in Marqeta in the third quarter worth about $77,000. nVerses Capital LLC grew its position in Marqeta by 917.2% in the third quarter. nVerses Capital LLC now owns 29,500 shares of the company's stock worth $145,000 after acquiring an additional 26,600 shares in the last quarter. ZWJ Investment Counsel Inc. grew its position in Marqeta by 2.5% in the third quarter. ZWJ Investment Counsel Inc. now owns 2,038,246 shares of the company's stock worth $10,028,000 after acquiring an additional 49,104 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Marqeta by 22.6% in the third quarter. Handelsbanken Fonder AB now owns 95,400 shares of the company's stock worth $469,000 after acquiring an additional 17,600 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MQ. Keefe, Bruyette & Woods reduced their price target on Marqeta from $7.00 to $6.00 and set a "market perform" rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their price target on Marqeta from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. UBS Group reduced their price target on Marqeta from $8.50 to $8.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Finally, Susquehanna restated a "positive" rating and set a $9.00 price target on shares of Marqeta in a report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Marqeta currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.11.

Marqeta Trading Up 9.1 %

Marqeta stock traded up $0.48 during trading on Monday, reaching $5.78. The company had a trading volume of 5,810,160 shares, compared to its average volume of 2,662,954. Marqeta has a 52 week low of $4.40 and a 52 week high of $7.36. The firm's 50-day simple moving average is $5.11 and its 200 day simple moving average is $5.29. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -288.86 and a beta of 1.77.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The business had revenue of $125.30 million for the quarter, compared to analysts' expectations of $121.87 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business's quarterly revenue was down 45.8% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. On average, analysts predict that Marqeta will post 0.06 earnings per share for the current year.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.