LM Funding America (NASDAQ:LMFA) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

LM Funding America (NASDAQ:LMFA) released its earnings results on Friday. The financial services provider reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.08, FiscalAI reports. LM Funding America had a negative return on equity of 33.65% and a negative net margin of 129.10%.The company had revenue of $2.44 million during the quarter, compared to the consensus estimate of $2.50 million.

LM Funding America Trading Down 13.1%

LM Funding America stock traded down $0.14 during midday trading on Friday, reaching $0.95. The stock had a trading volume of 3,158,283 shares, compared to its average volume of 2,042,843. LM Funding America has a twelve month low of $0.85 and a twelve month high of $5.14. The stock’s 50-day simple moving average is $1.16 and its 200 day simple moving average is $1.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a market capitalization of $14.71 million, a PE ratio of -0.22 and a beta of 1.81.

Wall Street Analysts Forecast Growth

LMFA has been the subject of several research analyst reports. Wall Street Zen raised shares of LM Funding America from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of LM Funding America in a research report on Wednesday, October 8th. Finally, HC Wainwright upgraded shares of LM Funding America from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On LM Funding America

Several large investors have recently modified their holdings of LMFA. XTX Topco Ltd acquired a new position in shares of LM Funding America in the 2nd quarter valued at about $54,000. Armistice Capital LLC raised its position in shares of LM Funding America by 28.4% during the 2nd 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. Jane Street Group LLC acquired a new stake in LM Funding America in the second quarter worth $70,000. Finally, Two Sigma Investments LP bought a new stake in LM Funding America in the third quarter valued at $100,000. Institutional investors own 22.73% of the company’s stock.

LM Funding America Company Profile

LM Funding America, Inc operates as a cryptocurrency mining and specialty finance company. It operates through two segments, Specialty Finance and Mining Operations. The company also engages in Bitcoin mining operations; and provides funding to nonprofit community associations. The company was founded in 2008 and is based in Tampa, Florida.