BM Technologies (NYSE:BMTX) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

BM Technologies (NYSE:BMTX) posted its earnings results on Monday. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08), MarketWatch Earnings reports. BM Technologies had a negative net margin of 29.87% and a negative return on equity of 28.05%.

BM Technologies Stock Up 37.7 %

BM Technologies stock opened at $3.25 on Tuesday. The company has a fifty day simple moving average of $2.30 and a 200-day simple moving average of $2.60. The firm has a market capitalization of $38.58 million, a price-to-earnings ratio of -2.06 and a beta of -0.04. BM Technologies has a 52-week low of $1.41 and a 52-week high of $6.13.

Hedge Funds Weigh In On BM Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Stifel Financial Corp purchased a new stake in BM Technologies during the 2nd quarter valued at about $45,000. Kennedy Capital Management LLC purchased a new stake in shares of BM Technologies in the second quarter valued at approximately $181,000. Renaissance Technologies LLC purchased a new stake in shares of BM Technologies in the second quarter valued at approximately $55,000. Tejara Capital Ltd acquired a new stake in shares of BM Technologies in the fourth quarter valued at approximately $131,000. Finally, Price T Rowe Associates Inc. MD lifted its position in BM Technologies by 86.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,800 shares of the company’s stock worth $103,000 after buying an additional 9,200 shares in the last quarter. 25.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BMTX has been the topic of several research analyst reports. Maxim Group dropped their target price on shares of BM Technologies from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 25th. Chardan Capital decreased their price target on shares of BM Technologies from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, July 26th. Finally, Northland Securities cut their price objective on BM Technologies from $5.00 to $4.25 and set a “market perform” rating for the company in a research note on Wednesday, August 23rd.

BM Technologies Company Profile

BM Technologies, Inc operates as a financial technology (fintech) company in the United States. It facilitates deposits and banking services between a customer and its partner bank, customers bank, which is a related party and is a Federal Deposit Insurance Corporation insured bank. The company, through its fintech banking platform, offers digital banking and disbursement services to consumers and students through digital channels.