WM Technology (NASDAQ:MAPS) Stock Falls 5.3% – Here’s Why

WM Technology, Inc. (NASDAQ:MAPS) was down 5.3% during trading on Wednesday. The stock traded as low as $0.29 and last traded at $0.2999. Approximately 101,073 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,128,189 shares. The stock had previously closed at $0.3166.

WM Technology Price Performance

The business’s 50 day moving average price is $0.37 and its 200 day moving average price is $0.38. The stock has a market capitalization of $47.70 million, a P/E ratio of 15.00 and a beta of 0.93.

WM Technology (NASDAQ:MAPS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $42.45 million for the quarter, compared to analysts’ expectations of $42.70 million. WM Technology had a net margin of 1.12% and a return on equity of 1.51%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in WM Technology stock. Renaissance Technologies LLC increased its position in WM Technology, Inc. (NASDAQ:MAPS) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,927,014 shares of the company’s stock after acquiring an additional 64,700 shares during the quarter. Renaissance Technologies LLC owned about 1.21% of WM Technology worth $1,269,000 at the end of the most recent quarter. 22.02% of the stock is currently owned by hedge funds and other institutional investors.

About WM Technology

WM Technology, Inc, operating under the Weedmaps brand, provides an online marketplace and technology platform for the regulated cannabis industry. Its Weedmaps marketplace connects consumers with licensed cannabis retailers, dispensaries and delivery providers, allowing users to discover products, review menus and place orders where permitted by local regulations.

The company also offers software and digital marketing tools for cannabis businesses. These services help retailers and brands manage online menus, customer relationships, advertising, promotions and other aspects of their digital presence.