Marti Technologies (NYSEAMERICAN:MRT) Earns Buy Rating from Analysts at Alliance Global Partners

Equities researchers at Alliance Global Partners initiated coverage on shares of Marti Technologies (NYSEAMERICAN:MRT) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Alliance Global Partners’ target price points to a potential upside of 175.86% from the stock’s current price.

Other research analysts have also issued reports about the company. Roth Mkm set a $4.00 price objective on Marti Technologies in a research report on Monday, April 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $2.40 price target on shares of Marti Technologies in a research note on Tuesday, May 26th. Finally, Citigroup reiterated a “neutral” rating on shares of Marti Technologies in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Marti Technologies presently has an average rating of “Hold” and a consensus price target of $3.47.

Marti Technologies Stock Up 10.7%

Shares of NYSEAMERICAN MRT opened at $1.45 on Thursday. Marti Technologies has a 1-year low of $1.12 and a 1-year high of $3.11. The company has a 50-day moving average of $1.88 and a two-hundred day moving average of $2.12.

Marti Technologies (NYSEAMERICAN:MRT) last issued its quarterly earnings results on Saturday, May 16th. The company reported ($0.09) earnings per share for the quarter. The company had revenue of $15.43 million for the quarter. As a group, sell-side analysts forecast that Marti Technologies will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Marti Technologies stock. Arbiter Partners Capital Management LLC boosted its stake in Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 286,254 shares of the company’s stock after purchasing an additional 56,319 shares during the quarter. Arbiter Partners Capital Management LLC owned about 0.33% of Marti Technologies worth $573,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.71% of the company’s stock.

About Marti Technologies

Marti Technologies Inc is a mobility app, offering multiple transportation services to its riders. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers, and operates a large fleet of rental e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure.