WM Technology, Inc. (NASDAQ:MAPS – Get Rating) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 2,480,000 shares, a growth of 37.0% from the April 15th total of 1,810,000 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average trading volume of 897,500 shares, the short-interest ratio is currently 2.8 days.
A number of analysts recently weighed in on MAPS shares. Canaccord Genuity Group decreased their target price on shares of WM Technology from $21.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, February 24th. Cantor Fitzgerald upped their target price on shares of WM Technology from $6.25 to $7.65 and gave the stock an “overweight” rating in a report on Thursday, February 24th. Zacks Investment Research raised shares of WM Technology from a “sell” rating to a “hold” rating in a report on Friday. Finally, Piper Sandler decreased their target price on shares of WM Technology from $9.00 to $8.00 in a report on Thursday, May 5th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $14.64.
Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN purchased a new stake in shares of WM Technology in the 2nd quarter valued at $49,000. Bank of America Corp DE purchased a new stake in shares of WM Technology in the 2nd quarter valued at $74,000. Citigroup Inc. boosted its stake in shares of WM Technology by 822.3% in the 3rd quarter. Citigroup Inc. now owns 5,534 shares of the company’s stock valued at $80,000 after purchasing an additional 4,934 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of WM Technology in the 4th quarter valued at $35,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of WM Technology in the 3rd quarter valued at $85,000. 24.99% of the stock is owned by institutional investors.
Shares of NASDAQ:MAPS opened at $5.89 on Monday. The company’s fifty day moving average price is $6.42 and its 200-day moving average price is $6.57. The firm has a market capitalization of $800.46 million, a price-to-earnings ratio of 31.00 and a beta of 0.26. WM Technology has a one year low of $4.22 and a one year high of $22.24.
WM Technology (NASDAQ:MAPS – Get Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.78). The company had revenue of $54.18 million during the quarter, compared to the consensus estimate of $51.39 million. WM Technology had a negative return on equity of 133.55% and a net margin of 22.20%. As a group, research analysts forecast that WM Technology will post -0.26 earnings per share for the current fiscal year.
About WM Technology (Get Rating)
WM Holding Company, LLC provides software and technology solutions to the cannabis industry. It operates Weedmaps, an online directory of cannabis retailers and information site for cannabis producers and consumers; and provides cloud-based software as a service and data solutions to cannabis retailers and major brands.
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