Short Interest in WM Technology, Inc. (NASDAQ:MAPS) Declines By 14.7%

WM Technology, Inc. (NASDAQ:MAPS) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 1,740,000 shares, a drop of 14.7% from the April 30th total of 2,040,000 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average trading volume of 822,700 shares, the short-interest ratio is currently 2.1 days.

Insider Buying and Selling

In other WM Technology news, CEO Douglas Francis sold 155,897 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $1.11, for a total transaction of $173,045.67. Following the completion of the sale, the chief executive officer now directly owns 8,886,513 shares in the company, valued at $9,864,029.43. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian Camire sold 373,523 shares of WM Technology stock in a transaction on Friday, May 16th. The shares were sold at an average price of $1.09, for a total value of $407,140.07. Following the completion of the transaction, the general counsel now owns 2,024,323 shares in the company, valued at approximately $2,206,512.07. The trade was a 15.58% decrease in their position. The disclosure for this sale can be found here. 23.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in WM Technology by 42.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,765 shares of the company’s stock worth $54,000 after acquiring an additional 11,573 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of WM Technology by 40.6% during the fourth quarter. SG Americas Securities LLC now owns 40,305 shares of the company’s stock valued at $56,000 after acquiring an additional 11,633 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of WM Technology by 52.0% during the fourth quarter. Wells Fargo & Company MN now owns 41,053 shares of the company’s stock worth $57,000 after purchasing an additional 14,043 shares during the period. Barclays PLC grew its stake in shares of WM Technology by 12.4% in the fourth quarter. Barclays PLC now owns 136,584 shares of the company’s stock worth $188,000 after purchasing an additional 15,074 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of WM Technology by 2.4% in the fourth quarter. Northern Trust Corp now owns 719,573 shares of the company’s stock worth $993,000 after purchasing an additional 16,737 shares during the last quarter. Institutional investors and hedge funds own 22.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Westpark Capital reissued a “buy” rating and set a $2.61 target price on shares of WM Technology in a research note on Friday, May 9th. Wall Street Zen raised shares of WM Technology from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd.

WM Technology Stock Performance

Shares of NASDAQ:MAPS opened at $1.05 on Thursday. WM Technology has a 52-week low of $0.70 and a 52-week high of $1.65. The company has a market capitalization of $162.07 million, a PE ratio of -34.99 and a beta of 1.14. The company has a fifty day moving average of $1.10 and a 200-day moving average of $1.25.

WM Technology (NASDAQ:MAPS) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $44.61 million for the quarter, compared to analyst estimates of $43.00 million. WM Technology had a negative return on equity of 1.68% and a negative net margin of 1.02%.

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.