LM Funding America (NASDAQ:LMFA) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

LM Funding America, Inc. (NASDAQ:LMFA)’s stock price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.32 and traded as low as $0.2613. LM Funding America shares last traded at $0.2648, with a volume of 984,617 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of LM Funding America in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

LM Funding America Price Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.28 million, a P/E ratio of -0.10 and a beta of 2.43. The business has a fifty day moving average of $0.32 and a 200 day moving average of $0.61.

LM Funding America (NASDAQ:LMFA) last posted its quarterly earnings results on Friday, March 27th. The financial services provider reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.98). LM Funding America had a negative return on equity of 80.72% and a negative net margin of 304.39%.The business had revenue of $2.37 million for the quarter, compared to the consensus estimate of $2.80 million.

Hedge Funds Weigh In On LM Funding America

A number of hedge funds and other institutional investors have recently bought and sold shares of LMFA. Sabby Management LLC bought a new position in LM Funding America during the third quarter worth $728,000. XTX Topco Ltd bought a new position in LM Funding America during the second quarter worth $54,000. Jane Street Group LLC boosted its position in LM Funding America by 782.6% during the fourth quarter. Jane Street Group LLC now owns 124,390 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 110,297 shares during the period. Citadel Advisors LLC bought a new position in LM Funding America during the third quarter worth $139,000. Finally, Armistice Capital LLC boosted its position in LM Funding America by 28.4% during the second quarter. Armistice Capital LLC now owns 397,899 shares of the financial services provider’s stock worth $1,138,000 after purchasing an additional 87,905 shares during the period. Institutional investors own 22.73% of the company’s stock.

About LM Funding America

LM Funding America, Inc, headquartered in Miami, Florida, is a specialty finance company that provides retail installment contracts to subprime borrowers. The company originates, acquires, and manages motor vehicle retail financing through a network of franchised and independent automobile dealerships across the United States. LM Funding America holds and services its loan portfolio through its wholly owned subsidiary, LM Funding America Service Corp., and offers floorplan financing to new and used vehicle dealers through LM Funding Floorplan LLC.

Established in 2013, LM Funding America completed its initial public offering on the Nasdaq Stock Market in 2015, enabling the company to expand its lending operations and geographic presence.