Marti Technologies (NYSEAMERICAN:MRT) Posts Quarterly Earnings Results

Marti Technologies (NYSEAMERICAN:MRT) issued its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $19.99 million during the quarter.

Marti Technologies Trading Up 8.7%

Shares of NYSEAMERICAN:MRT opened at $2.00 on Wednesday. The company has a 50 day moving average of $1.68 and a 200-day moving average of $1.94. Marti Technologies has a one year low of $1.12 and a one year high of $2.75.

Analysts Set New Price Targets

A number of brokerages have commented on MRT. Cantor Fitzgerald restated a “neutral” rating and set a $2.40 price target on shares of Marti Technologies in a research note on Tuesday, May 26th. Citigroup reissued a “neutral” rating on shares of Marti Technologies in a report on Tuesday, May 26th. Finally, Alliance Global Partners initiated coverage on Marti Technologies in a research report on Thursday, July 2nd. They issued a “buy” rating and a $4.00 price objective for the company. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.47.

Institutional Trading of Marti Technologies

An institutional investor recently raised its stake in Marti Technologies stock. Arbiter Partners Capital Management LLC lifted its position in shares of Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,254 shares of the company’s stock after purchasing an additional 56,319 shares during the quarter. Arbiter Partners Capital Management LLC owned 0.33% of Marti Technologies worth $573,000 at the end of the most recent reporting period. 20.71% of the stock is currently owned by hedge funds and other institutional investors.

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.