Bimini Capital Management (OTCMKTS:BMNM) Stock Passes Above 50-Day Moving Average – Should You Sell?

Shares of Bimini Capital Management Inc. (OTCMKTS:BMNM) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.79 and traded as high as $2.88. Bimini Capital Management shares last traded at $2.88, with a volume of 104 shares trading hands.

Bimini Capital Management Price Performance

The stock’s fifty day moving average price is $2.79 and its 200-day moving average price is $2.71. The firm has a market cap of $29.00 million, a PE ratio of 4.80 and a beta of 0.14. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.09 and a quick ratio of 1.09.

Bimini Capital Management (OTCMKTS:BMNM) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.08 earnings per share for the quarter. Bimini Capital Management had a net margin of 32.69% and a return on equity of 56.67%.

Bimini Capital Management announced that its board has initiated a share repurchase plan on Thursday, March 12th that authorizes the company to repurchase $2.50 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Bimini Capital Management

Bimini Capital Management, Inc, through its subsidiaries, operates as a specialty finance company in the United States. The company operates in two segments, Asset Management and Investment Portfolio. The Asset Management segment includes investment advisory services by Bimini Advisors to Orchid Island Capital, Inc and Royal Palm Capital, LLC. The Investment Portfolio segment engages in investment activities conducted by Royal Palm Capital, LLC. It invests in residential mortgage-backed securities.