MoneyLion (NYSE:ML) Shares Gap Down to $59.70

Shares of MoneyLion Inc. (NYSE:ML) gapped down before the market opened on Tuesday . The stock had previously closed at $59.70, but opened at $53.51. MoneyLion shares last traded at $48.00, with a volume of 464,251 shares.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of MoneyLion in a research report on Monday, June 24th. Craig Hallum upped their price objective on shares of MoneyLion from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. B. Riley reiterated a “buy” rating and set a $133.00 price objective on shares of MoneyLion in a research report on Tuesday, June 25th. Finally, Lake Street Capital upped their price target on shares of MoneyLion from $75.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $101.00.

MoneyLion Stock Down 17.9 %

The company has a market capitalization of $515.28 million, a P/E ratio of -14.83 and a beta of 2.74. The company’s 50-day moving average is $77.44 and its two-hundred day moving average is $69.02.

MoneyLion (NYSE:ML) last released its earnings results on Tuesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.89. The firm had revenue of $121.00 million for the quarter, compared to the consensus estimate of $116.32 million. MoneyLion had a negative net margin of 6.42% and a negative return on equity of 3.02%. The company’s revenue was up 29.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.29) EPS. On average, sell-side analysts predict that MoneyLion Inc. will post 1.45 EPS for the current year.

Insider Activity at MoneyLion

In related news, insider Timmie Hong sold 7,437 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $88.01, for a total transaction of $654,530.37. Following the completion of the sale, the insider now owns 119,482 shares in the company, valued at $10,515,610.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other MoneyLion news, insider Timmie Hong sold 7,437 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $88.01, for a total transaction of $654,530.37. Following the transaction, the insider now owns 119,482 shares in the company, valued at approximately $10,515,610.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Torossian sold 1,018 shares of MoneyLion stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $81.71, for a total value of $83,180.78. Following the completion of the sale, the chief accounting officer now owns 22,206 shares in the company, valued at $1,814,452.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,185 shares of company stock worth $8,336,133. Company insiders own 14.10% of the company’s stock.

Institutional Investors Weigh In On MoneyLion

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in MoneyLion during the fourth quarter worth approximately $35,000. EntryPoint Capital LLC bought a new position in MoneyLion during the 1st quarter valued at $70,000. Commonwealth Equity Services LLC acquired a new position in MoneyLion during the 2nd quarter worth $227,000. Private Ocean LLC bought a new stake in shares of MoneyLion in the 2nd quarter worth about $238,000. Finally, SG Americas Securities LLC acquired a new stake in shares of MoneyLion in the 1st quarter valued at about $236,000. Institutional investors and hedge funds own 31.43% of the company’s stock.

MoneyLion Company Profile

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.