Published on October 3rd, 2022 📆 | 7191 Views ⚑
0WM Technology, Inc. (NASDAQ:MAPS) Short Interest Up 9.4% in September
WM Technology, Inc. (NASDAQ:MAPS - Get Rating) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,500,000 shares, an increase of 9.4% from the August 31st total of 3,200,000 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,220,000 shares, the days-to-cover ratio is presently 2.9 days.
Wall Street Analysts Forecast Growth
MAPS has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their target price on shares of WM Technology from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Thursday, August 11th. Stifel Nicolaus cut shares of WM Technology from a "buy" rating to a "hold" rating and lowered their target price for the company from $10.00 to $3.20 in a research note on Wednesday, August 10th. Piper Sandler cut shares of WM Technology from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $8.00 to $4.00 in a research note on Wednesday, August 10th. Finally, BTIG Research cut shares of WM Technology from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $7.17.
Insiders Place Their Bets
In other WM Technology news, CFO Arden Lee sold 27,876 shares of WM Technology stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $2.65, for a total transaction of $73,871.40. Following the transaction, the chief financial officer now directly owns 524,593 shares in the company, valued at approximately $1,390,171.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other WM Technology news, CFO Arden Lee sold 27,876 shares of WM Technology stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $2.65, for a total transaction of $73,871.40. Following the completion of the sale, the chief financial officer now owns 524,593 shares of the company's stock, valued at approximately $1,390,171.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Juan Jose Feijoo-Osorio sold 28,174 shares of WM Technology stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $2.65, for a total transaction of $74,661.10. Following the completion of the sale, the chief operating officer now directly owns 383,602 shares of the company's stock, valued at approximately $1,016,545.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,791 shares of company stock worth $349,246. 41.89% of the stock is owned by insiders.
Hedge Funds Weigh In On WM Technology
Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new position in shares of WM Technology during the second quarter worth approximately $25,000. Principal Financial Group Inc. acquired a new position in shares of WM Technology during the second quarter worth approximately $35,000. Y Intercept Hong Kong Ltd acquired a new position in shares of WM Technology during the second quarter worth approximately $37,000. Exchange Traded Concepts LLC acquired a new position in WM Technology in the second quarter valued at approximately $45,000. Finally, Pictet Asset Management SA acquired a new position in WM Technology in the second quarter valued at approximately $45,000. 34.47% of the stock is currently owned by institutional investors and hedge funds.
WM Technology Stock Down 4.7 %
NASDAQ:MAPS opened at $1.61 on Monday. The firm has a market cap of $218.80 million, a PE ratio of 3.29 and a beta of 0.70. WM Technology has a 12 month low of $1.60 and a 12 month high of $15.16. The company's 50-day moving average price is $2.66 and its two-hundred day moving average price is $4.47.
WM Technology (NASDAQ:MAPS - Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.09). WM Technology had a net margin of 24.42% and a negative return on equity of 66.26%. The firm had revenue of $58.29 million during the quarter, compared to analyst estimates of $62.17 million. On average, research analysts expect that WM Technology will post -0.15 EPS for the current fiscal year.
WM Technology Company Profile
WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States, Canada, and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and information on the cannabis plant, and the industry and advocate related services for legalization.
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