BM Technologies (NYSE:BMTX) Trading Down 0.6% – What’s Next?

Posted by Thomas Dobrow on Jan 9th, 2025

BM Technologies, Inc. (NYSE:BMTX – Get Free Report)’s stock price dropped 0.6% during trading on Tuesday . The company traded as low as $4.86 and last traded at $4.87. Approximately 768,236 shares were traded during trading, an increase of 87% from the average daily volume of 410,434 shares. The stock had previously closed at $4.90.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BMTX. Maxim Group reissued a “hold” rating on shares of BM Technologies in a report on Monday, October 28th. Northland Capmk downgraded shares of BM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th.

Get Our Latest Stock Report on BM Technologies

BM Technologies Stock Performance

The company has a market capitalization of $59.04 million, a price-to-earnings ratio of -4.40 and a beta of 0.17. The company has a fifty day simple moving average of $4.79 and a two-hundred day simple moving average of $3.61.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BM Technologies stock. Renaissance Technologies LLC boosted its position in BM Technologies, Inc. (NYSE:BMTX – Free Report) by 323.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,106 shares of the company’s stock after acquiring an additional 102,406 shares during the quarter. Renaissance Technologies LLC owned 1.11% of BM Technologies worth $302,000 as of its most recent filing with the Securities and Exchange Commission. 20.15% of the stock is currently owned by institutional investors.

BM Technologies Company Profile

(Get Free Report)

BM Technologies, Inc, a financial technology company, facilitates deposits and banking services between a customer and its partner banks in the United States. It offers digital banking and disbursement services to consumers and students through a full service fintech banking platform. The company was formerly known as BankMobile Technologies, Inc and changed its name to BM Technologies, Inc in January 2021.