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

WM Technology, Inc. (NASDAQ:MAPS) saw a significant drop in short interest in 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 trading volume, of 476,900 shares, the days-to-cover ratio is presently 3.9 days. Approximately 2.4% of the company’s shares are sold short.

WM Technology Stock Down 0.8 %

NASDAQ MAPS traded down $0.01 on Friday, reaching $0.99. The stock had a trading volume of 2,032,953 shares, compared to its average volume of 850,667. The stock has a fifty day moving average price of $0.88 and a two-hundred day moving average price of $0.97. WM Technology has a 12-month low of $0.70 and a 12-month high of $1.47. The firm has a market capitalization of $151.16 million, a price-to-earnings ratio of -33.05 and a beta of 0.77.

WM Technology (NASDAQ:MAPS) last announced its earnings results on Tuesday, November 12th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. WM Technology had a negative net margin of 1.02% and a negative return on equity of 1.68%. The firm had revenue of $46.55 million for the quarter.

Hedge Funds Weigh In On WM Technology

A number of institutional investors and hedge funds have recently made changes to their positions in MAPS. Virtu Financial LLC purchased a new position in WM Technology in the first quarter valued at $28,000. Vanguard Group Inc. increased its holdings in shares of WM Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,452,355 shares of the company’s stock valued at $5,922,000 after acquiring an additional 24,588 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of WM Technology in the 3rd quarter valued at about $25,000. Barclays PLC raised its position in shares of WM Technology by 37.5% during the 3rd quarter. Barclays PLC now owns 121,510 shares of the company’s stock worth $106,000 after acquiring an additional 33,153 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in WM Technology during the first quarter worth approximately $53,000. 22.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Westpark Capital reissued a “buy” rating and issued a $2.61 price target on shares of WM Technology in a research note on Wednesday.

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.