Short Interest in WM Technology, Inc. (NASDAQ:MAPS) Drops By 18.4%

WM Technology, Inc. (NASDAQ:MAPS) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,390,000 shares, a decrease of 18.4% from the February 28th total of 2,930,000 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 1.9 days.

Wall Street Analyst Weigh In

Separately, Westpark Capital reissued a “buy” rating and issued a $2.61 price objective on shares of WM Technology in a research note on Tuesday, March 11th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC grew its stake in WM Technology by 298.0% in the 4th quarter. FNY Investment Advisers LLC now owns 19,900 shares of the company’s stock worth $27,000 after acquiring an additional 14,900 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of WM Technology in the fourth quarter valued at approximately $28,000. The Manufacturers Life Insurance Company bought a new position in WM Technology in the fourth quarter worth approximately $35,000. Voya Investment Management LLC bought a new position in WM Technology in the fourth quarter worth approximately $39,000. Finally, Raymond James Financial Inc. bought a new stake in WM Technology during the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 22.02% of the company’s stock.

WM Technology Stock Performance

Shares of MAPS stock opened at $1.13 on Tuesday. The stock has a 50 day moving average price of $1.32 and a 200 day moving average price of $1.19. WM Technology has a 52-week low of $0.70 and a 52-week high of $1.65. The firm has a market capitalization of $174.41 million, a P/E ratio of -37.65 and a beta of 0.93.

WM Technology (NASDAQ:MAPS) last released its earnings results on Thursday, March 13th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $47.67 million during the quarter, compared to analysts’ expectations of $46.00 million. WM Technology had a negative return on equity of 1.68% and a negative net margin of 1.02%.

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.