Bimini Capital Management (OTCMKTS:BMNM) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Shares of Bimini Capital Management Inc. (OTCMKTS:BMNM) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.83 and traded as low as $2.4798. Bimini Capital Management shares last traded at $2.4798, with a volume of 1,700 shares.

Bimini Capital Management Trading Up 3.3%

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.04. The stock has a fifty day simple moving average of $2.66 and a 200 day simple moving average of $2.83. The firm has a market capitalization of $24.97 million, a P/E ratio of 4.13 and a beta of 0.14.

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

Bimini Capital Management announced that its Board of Directors has initiated a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Bimini Capital Management Company Profile

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.