BM Technologies (NYSE:BMTX) Downgraded by Northland Capmk to “Hold”

Northland Capmk lowered shares of BM Technologies (NYSE:BMTX) from a strong-buy rating to a hold rating in a research report sent to investors on Monday, Zacks.com reports.

A number of other analysts have also weighed in on the stock. Maxim Group reiterated a “hold” rating on shares of BM Technologies in a report on Monday. Northland Securities upgraded BM Technologies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $3.50 to $5.40 in a report on Thursday, August 22nd.

BM Technologies Price Performance

Shares of BM Technologies stock opened at $4.73 on Monday. BM Technologies has a one year low of $1.45 and a one year high of $4.86. The business’s 50 day simple moving average is $3.29 and its two-hundred day simple moving average is $2.77. The stock has a market capitalization of $57.06 million, a P/E ratio of -4.68 and a beta of 0.24.

BM Technologies (NYSE:BMTX) last issued its earnings results on Wednesday, August 14th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.23). The firm had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $13.73 million. BM Technologies had a negative return on equity of 39.27% and a negative net margin of 20.57%. Sell-side analysts expect that BM Technologies will post -0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BM Technologies

An institutional investor recently raised its position in BM Technologies stock. Renaissance Technologies LLC raised its position in shares of BM Technologies, Inc. (NYSE:BMTX) by 323.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 134,106 shares of the company’s stock after acquiring 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. 20.15% of the stock is currently owned by institutional investors.

About BM Technologies

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.