LM Funding America (NASDAQ:LMFA) Share Price Passes Below Fifty Day Moving Average – Here’s Why

LM Funding America, Inc. (NASDAQ:LMFA) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.41 and traded as low as $0.3701. LM Funding America shares last traded at $0.3727, with a volume of 99,314 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LMFA shares. Weiss Ratings restated a “sell (e+)” rating on shares of LM Funding America in a research report on Monday, December 29th. Wall Street Zen raised LM Funding America from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.00.

LM Funding America Trading Down 1.9%

The business has a fifty day moving average price of $0.41 and a two-hundred day moving average price of $0.89. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $4.55 million, a PE ratio of -0.16 and a beta of 2.26.

Hedge Funds Weigh In On LM Funding America

A number of hedge funds have recently made changes to their positions in LMFA. XTX Topco Ltd purchased a new stake in LM Funding America in the second quarter valued at approximately $54,000. Armistice Capital LLC raised its holdings in shares of LM Funding America by 28.4% in the 2nd quarter. Armistice Capital LLC now owns 397,899 shares of the financial services provider’s stock valued at $1,138,000 after buying an additional 87,905 shares during the period. Jane Street Group LLC purchased a new stake in shares of LM Funding America in the 2nd quarter valued at $70,000. GSA Capital Partners LLP purchased a new position in LM Funding America during the 3rd quarter valued at about $70,000. Finally, Sabby Management LLC purchased a new position in LM Funding America during the 3rd quarter valued at about $728,000. Hedge funds and other 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.