Cantor Fitzgerald Cuts Marti Technologies (NYSEAMERICAN:MRT) Price Target to $2.20

Marti Technologies (NYSEAMERICAN:MRT) had its price objective cut by Cantor Fitzgerald from $2.40 to $2.20 in a report released on Monday morning, MarketBeat reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. Alliance Global Partners initiated coverage on Marti Technologies in a report on Thursday, July 2nd. They set a “buy” rating and a $4.00 price objective on the stock. Roth Capital set a $3.50 target price on Marti Technologies in a report on Thursday, August 20th. Benchmark upped their target price on Marti Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Citigroup restated a “buy” rating on shares of Marti Technologies in a research note on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.92.

Marti Technologies Stock Performance

Shares of Marti Technologies stock opened at $2.17 on Monday. The company has a fifty day simple moving average of $1.72 and a 200-day simple moving average of $1.93. Marti Technologies has a 12-month low of $1.12 and a 12-month high of $2.75.

Marti Technologies (NYSEAMERICAN:MRT) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.15) EPS for the quarter. The company had revenue of $19.98 million for the quarter. Equities research analysts forecast that Marti Technologies will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Marti Technologies

An institutional investor recently raised its position in Marti Technologies stock. Arbiter Partners Capital Management LLC increased its stake in shares of Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 286,254 shares of the company’s stock after buying an additional 56,319 shares during the quarter. Arbiter Partners Capital Management LLC owned about 0.33% of Marti Technologies worth $573,000 at the end of the most recent quarter. 20.71% of the stock is currently owned by institutional investors and hedge funds.

Marti Technologies Company Profile

Marti Technologies Inc is a mobility app, offering multiple transportation services to its riders. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers, and operates a large fleet of rental e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure.