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WM Technology (NASDAQ:MAPS – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.
According to Zacks, “WM TECHNOLOGY is a technology and software infrastructure provider to the cannabis industry. WM TECHNOLOGY, formerly known as Silver Spike Acquisition Corp., is based in IRVINE, Calif. “
A number of other research firms have also recently weighed in on MAPS. Canaccord Genuity Group dropped their price target on WM Technology from $21.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, February 24th. Cantor Fitzgerald upped their price objective on WM Technology from $6.25 to $7.65 and gave the company an “overweight” rating in a report on Thursday, February 24th. Finally, Piper Sandler decreased their price objective on WM Technology from $9.00 to $8.00 in a report on Thursday, May 5th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $14.64.
Shares of WM Technology stock opened at $5.65 on Wednesday. WM Technology has a 12-month low of $4.22 and a 12-month high of $22.24. The business’s 50 day moving average is $6.29 and its 200-day moving average is $6.08. The stock has a market cap of $767.84 million, a P/E ratio of 29.74 and a beta of 0.26.
In other news, insider Justin Dean sold 10,253 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $5.47, for a total transaction of $56,083.91. Following the completion of the transaction, the insider now directly owns 297,670 shares in the company, valued at $1,628,254.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Juan Jose Feijoo-Osorio sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $5.47, for a total value of $80,097.21. Following the transaction, the chief operating officer now owns 411,776 shares of the company’s stock, valued at $2,252,414.72. The disclosure for this sale can be found here. Insiders sold 89,652 shares of company stock valued at $490,396 over the last quarter.
Institutional investors have recently made changes to their positions in the business. Deutsche Bank AG acquired a new stake in WM Technology in the fourth quarter valued at approximately $35,000. Bessemer Group Inc. purchased a new position in shares of WM Technology during the fourth quarter valued at approximately $46,000. Wells Fargo & Company MN purchased a new position in shares of WM Technology during the second quarter valued at approximately $49,000. Banque Cantonale Vaudoise boosted its position in shares of WM Technology by 83.2% during the first quarter. Banque Cantonale Vaudoise now owns 7,000 shares of the company’s stock valued at $55,000 after buying an additional 3,180 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its position in shares of WM Technology by 64.4% during the fourth quarter. Wolverine Asset Management LLC now owns 9,748 shares of the company’s stock valued at $58,000 after buying an additional 3,820 shares during the last quarter. 24.99% of the stock is owned by hedge funds and other institutional investors.
WM Technology Company Profile (Get Rating)
WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States, Canada, 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 information on the cannabis plant, and the industry and advocate related services for legalization.
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