Bimini Capital Management (OTCMKTS:BMNM) Stock Passes Below 200 Day Moving Average – Should You Sell?

Bimini Capital Management Inc. (OTCMKTS:BMNM)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.79 and traded as low as $2.50. Bimini Capital Management shares last traded at $2.50, with a volume of 6,477 shares traded.

Bimini Capital Management Stock Up 1.5%

The company’s 50 day moving average price is $2.72 and its two-hundred day moving average price is $2.79. The firm has a market cap of $25.18 million, a PE ratio of 4.17 and a beta of 0.14. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.04.

Bimini Capital Management (OTCMKTS:BMNM) last issued 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 declared that its Board of Directors has authorized a stock buyback program on Thursday, March 12th that allows the company to buyback $2.50 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is 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.