Bimini Capital Management (OTCMKTS:BMNM) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Shares of Bimini Capital Management Inc. (OTCMKTS:BMNM) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.62 and traded as low as $2.60. Bimini Capital Management shares last traded at $2.90, with a volume of 2,406 shares trading hands.

Bimini Capital Management Price Performance

The company has a debt-to-equity ratio of 2.04, a current ratio of 1.09 and a quick ratio of 0.17. The firm has a fifty day moving average of $2.87 and a two-hundred day moving average of $2.62. The stock has a market capitalization of $29.20 million, a P/E ratio of 4.83 and a beta of 0.14.

Bimini Capital Management (OTCMKTS:BMNM) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.08 EPS for the quarter. Bimini Capital Management had a net margin of 32.69% and a return on equity of 56.67%.

Bimini Capital Management declared that its Board of Directors has approved a share buyback program on Thursday, March 12th that permits the company to repurchase $2.50 million in shares. This repurchase authorization permits the financial services provider to purchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Bimini Capital Management Company Profile

Bimini Capital Management, Inc, through its subsidiaries, operates as a specialty finance company in the United States. The company operates in two segments, Asset Management and Investment Portfolio. The Asset Management segment includes investment advisory services by Bimini Advisors to Orchid Island Capital, Inc and Royal Palm Capital, LLC. The Investment Portfolio segment engages in investment activities conducted by Royal Palm Capital, LLC. It invests in residential mortgage-backed securities.