Chardan Capital Reiterates Buy Rating for BM Technologies (NYSE:BMTX)

BM Technologies (NYSE:BMTX)‘s stock had its “buy” rating restated by analysts at Chardan Capital in a report released on Monday, Benzinga reports. They currently have a $8.00 price target on the stock. Chardan Capital’s price target would suggest a potential upside of 433.33% from the stock’s previous close.

BM Technologies Stock Performance

Shares of BMTX stock opened at $1.50 on Monday. BM Technologies has a fifty-two week low of $1.41 and a fifty-two week high of $3.85. The firm has a market capitalization of $18.09 million, a price-to-earnings ratio of -1.00 and a beta of -0.01. The stock’s 50-day simple moving average is $1.71 and its 200-day simple moving average is $2.18.

BM Technologies (NYSE:BMTX) last issued its quarterly earnings results on Wednesday, April 3rd. The company reported ($0.34) earnings per share for the quarter. BM Technologies had a negative return on equity of 46.82% and a negative net margin of 30.91%. The business had revenue of $14.86 million for the quarter. As a group, equities analysts forecast that BM Technologies will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On BM Technologies

A hedge fund recently raised its stake in BM Technologies stock. Pacific Ridge Capital Partners LLC increased its position in shares of BM Technologies, Inc. (NYSE:BMTX) by 40.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 645,768 shares of the company’s stock after purchasing an additional 185,626 shares during the quarter. Pacific Ridge Capital Partners LLC owned 5.44% of BM Technologies worth $1,324,000 as of its most recent SEC filing. 20.15% of the stock is currently owned by institutional investors and hedge funds.

About BM Technologies

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.