Northland Capmk Downgrades BM Technologies (NYSE:BMTX) to Hold

BM Technologies (NYSE:BMTX - Get Free Report) was downgraded by analysts at Northland Capmk from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks.com reports.

A number of other research firms have also weighed in on BMTX. Northland Securities raised BM Technologies from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $3.50 to $5.40 in a report on Thursday, August 22nd. Maxim Group reaffirmed a "hold" rating on shares of BM Technologies in a research note on Monday.

BM Technologies Price Performance

Shares of BMTX stock remained flat at $4.72 on Monday. The stock had a trading volume of 126,514 shares, compared to its average volume of 124,569. The firm has a 50 day moving average price of $3.29 and a 200 day moving average price of $2.77. BM Technologies has a 12 month low of $1.45 and a 12 month high of $4.86. The company has a market capitalization of $57.11 million, a price-to-earnings ratio of -4.59 and a beta of 0.24.

BM Technologies (NYSE:BMTX - Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported ($0.41) earnings per share 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 business had revenue of $12.54 million during the quarter, compared to analysts' expectations of $13.73 million. Sell-side analysts expect that BM Technologies will post -0.65 earnings per share for the current year.

Hedge Funds Weigh In On BM Technologies

A hedge fund recently raised its stake in BM Technologies stock. Renaissance Technologies LLC grew its position in shares of BM Technologies, Inc. (NYSE:BMTX - Free Report) by 323.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,106 shares of the company's stock after purchasing 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. 20.15% of the stock is 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.