WM Technology (NASDAQ:MAPS) Trading 10.5% Higher – Here’s Why

WM Technology, Inc. (NASDAQ:MAPS)’s share price shot up 10.5% on Tuesday . The stock traded as high as $1.19 and last traded at $1.16. 3,101,012 shares were traded during mid-day trading, an increase of 184% from the average session volume of 1,092,815 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of WM Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2.61.

WM Technology Price Performance

The stock has a market cap of $182.38 million, a price-to-earnings ratio of 16.57 and a beta of 1.17. The business has a fifty day moving average of $0.98 and a 200 day moving average of $1.04.

WM Technology (NASDAQ:MAPS) last posted its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). WM Technology had a net margin of 4.40% and a return on equity of 6.22%. The business had revenue of $42.18 million during the quarter, compared to analyst estimates of $42.00 million.

Insiders Place Their Bets

In other news, CEO Douglas Francis sold 158,733 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $0.83, for a total transaction of $131,748.39. Following the completion of the sale, the chief executive officer owned 8,570,806 shares in the company, valued at approximately $7,113,768.98. This represents a 1.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian Camire sold 90,979 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $0.84, for a total value of $76,422.36. Following the transaction, the general counsel directly owned 1,842,862 shares in the company, valued at approximately $1,548,004.08. This represents a 4.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 23.64% of the company’s stock.

Hedge Funds Weigh In On WM Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp grew its stake in WM Technology by 327.5% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 373,200 shares of the company’s stock valued at $422,000 after buying an additional 285,900 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of WM Technology by 9.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 259,858 shares of the company’s stock valued at $294,000 after purchasing an additional 22,343 shares during the last quarter. Scoggin Management LP bought a new position in shares of WM Technology in the first quarter worth about $1,130,000. Nuveen LLC acquired a new position in shares of WM Technology during the 1st quarter worth about $126,000. Finally, Los Angeles Capital Management LLC boosted its stake in WM Technology by 29.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,083,336 shares of the company’s stock valued at $971,000 after purchasing an additional 246,580 shares during the period. Institutional investors and hedge funds own 22.02% of the company’s stock.

About WM Technology

WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States 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 education and learning information to help newer consumers learn about the types of products to purchase.