Marti Technologies (NYSEAMERICAN:MRT) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Marti Technologies (NYSEAMERICAN:MRT) had its target price upped by investment analysts at Cantor Fitzgerald from $2.15 to $2.40 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 26.32% from the company’s current price.

Separately, Roth Mkm set a $4.00 target price on Marti Technologies in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Marti Technologies presently has a consensus rating of “Buy” and a consensus price target of $3.20.

Marti Technologies Price Performance

Shares of NYSEAMERICAN MRT opened at $1.90 on Tuesday. The stock’s fifty day simple moving average is $2.06 and its two-hundred day simple moving average is $2.22. Marti Technologies has a 12-month low of $1.86 and a 12-month high of $3.17.

Marti Technologies (NYSEAMERICAN:MRT) last announced its earnings results on Saturday, May 16th. The company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $15.43 million during the quarter. As a group, equities research analysts anticipate that Marti Technologies will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Marti Technologies

A hedge fund recently raised its stake in Marti Technologies stock. Arbiter Partners Capital Management LLC lifted its holdings in Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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. 20.71% of the stock is currently owned by hedge funds and other institutional investors.

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.