Short Interest in WM Technology, Inc. (NASDAQ:MAPS) Drops By 24.7%

WM Technology, Inc. (NASDAQ:MAPS) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,860,000 shares, a drop of 24.7% from the October 15th total of 2,470,000 shares. Based on an average daily volume of 476,900 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.4% of the shares of the company are short sold.

Institutional Trading of WM Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of WM Technology in the 3rd quarter worth $25,000. Virtu Financial LLC purchased a new position in WM Technology during the first quarter worth about $28,000. Quadrature Capital Ltd acquired a new stake in WM Technology in the first quarter valued at about $53,000. Jacobs Levy Equity Management Inc. purchased a new stake in WM Technology in the 3rd quarter valued at approximately $75,000. Finally, Clear Harbor Asset Management LLC acquired a new position in WM Technology during the 2nd quarter worth approximately $79,000. 22.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Westpark Capital reaffirmed a “buy” rating and set a $2.61 price target on shares of WM Technology in a research report on Wednesday.

WM Technology Trading Down 0.8 %

MAPS stock traded down $0.01 on Friday, hitting $0.99. The company’s stock had a trading volume of 2,032,953 shares, compared to its average volume of 850,667. WM Technology has a 1 year low of $0.70 and a 1 year high of $1.47. The stock has a market cap of $151.16 million, a price-to-earnings ratio of -33.05 and a beta of 0.77. The firm has a 50 day moving average of $0.88 and a two-hundred day moving average of $0.97.

WM Technology (NASDAQ:MAPS) last announced its earnings results on Tuesday, November 12th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. WM Technology had a negative net margin of 1.02% and a negative return on equity of 1.68%. The business had revenue of $46.55 million during the quarter.

WM Technology Company Profile

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.