LM Funding America (NASDAQ:LMFA) Share Price Passes Below 50 Day Moving Average – Here’s Why

LM Funding America, Inc. (NASDAQ:LMFA) passed below its 50-day moving average during trading on Friday . The stock has a 50-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 trading hands.

Analyst Upgrades and Downgrades

LMFA has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of LM Funding America in a 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 analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, LM Funding America has an average rating of “Hold” and a consensus target price of $5.00.

LM Funding America Stock Down 1.9%

The firm has a fifty day moving average price of $0.41 and a 200 day moving average price of $0.90. 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 company has a market cap of $4.55 million, a P/E ratio of -0.16 and a beta of 2.26.

Institutional Investors Weigh In On LM Funding America

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of LM Funding America during the second quarter valued at $54,000. Armistice Capital LLC grew 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 buying an additional 87,905 shares during the period. Jane Street Group LLC bought a new stake in shares of LM Funding America during the second quarter worth approximately $70,000. GSA Capital Partners LLP acquired a new position in LM Funding America in the third quarter valued at approximately $70,000. Finally, Sabby Management LLC acquired a new position in LM Funding America in the third quarter valued at approximately $728,000. 22.73% of the stock is owned by institutional investors and hedge funds.

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.