LM Funding America (NASDAQ:LMFA) Share Price Passes Above 50-Day Moving Average – What’s Next?

Shares of LM Funding America, Inc. (NASDAQ:LMFA) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.40 and traded as high as $0.4290. LM Funding America shares last traded at $0.3309, with a volume of 1,452,543 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LMFA shares. Weiss Ratings reissued a “sell (e+)” rating on shares of LM Funding America in a research note 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 research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LM Funding America currently has a consensus rating of “Hold” and an average price target of $5.00.

LM Funding America Trading Down 14.8%

The firm has a market capitalization of $4.04 million, a price-to-earnings ratio of -0.14 and a beta of 2.29. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $0.40 and its 200 day moving average is $0.79.

Hedge Funds Weigh In On LM Funding America

A number of hedge funds have recently modified their holdings of LMFA. Anson Funds Management LP purchased a new stake in shares of LM Funding America during the third quarter valued at $1,608,000. Sabby Management LLC purchased a new position in LM Funding America in the 3rd quarter worth about $728,000. Armistice Capital LLC increased its stake in LM Funding America by 40.5% in the 4th quarter. Armistice Capital LLC now owns 527,611 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 152,171 shares in the last quarter. Jane Street Group LLC raised its holdings in LM Funding America by 782.6% during the 4th quarter. Jane Street Group LLC now owns 124,390 shares of the financial services provider’s stock worth $55,000 after buying an additional 110,297 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in LM Funding America during the 3rd quarter worth about $139,000. 22.73% of the stock is currently owned by institutional investors and hedge funds.

LM Funding America Company Profile

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.