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

BM Technologies (NYSE:BMTX)‘s stock had its “buy” rating reiterated by Chardan Capital in a research note issued to investors on Monday, Benzinga reports. They currently have a $8.00 target price on the stock. Chardan Capital’s target price indicates a potential upside of 433.33% from the stock’s current price.

BM Technologies Stock Performance

BMTX opened at $1.50 on Monday. BM Technologies has a one year low of $1.41 and a one year high of $3.85. The company has a market cap of $18.09 million, a P/E ratio of -1.00 and a beta of -0.01. The business’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 data on Wednesday, April 3rd. The company reported ($0.34) earnings per share for the quarter. The firm had revenue of $14.86 million during the quarter. BM Technologies had a negative net margin of 30.91% and a negative return on equity of 46.82%. As a group, analysts predict that BM Technologies will post -0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BM Technologies

An institutional investor recently bought a new position in BM Technologies stock. Landscape Capital Management L.L.C. purchased a new position in shares of BM Technologies, Inc. (NYSE:BMTX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,869 shares of the company’s stock, valued at approximately $28,000. Landscape Capital Management L.L.C. owned about 0.12% of BM Technologies at the end of the most recent reporting period. 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.