LM Funding America (NASDAQ:LMFA) Issues Earnings Results, Beats Expectations By $0.08 EPS

LM Funding America (NASDAQ:LMFA) released its earnings results on Friday. The financial services provider reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.08, FiscalAI reports. LM Funding America had a negative net margin of 129.10% and a negative return on equity of 33.65%. The firm had revenue of $2.44 million for the quarter, compared to analysts’ expectations of $2.50 million.

LM Funding America Price Performance

LMFA traded down $0.14 during trading on Friday, reaching $0.95. The stock had a trading volume of 3,158,283 shares, compared to its average volume of 2,042,843. The business has a 50-day moving average of $1.16 and a 200-day moving average of $1.72. LM Funding America has a one year low of $0.85 and a one year high of $5.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a market cap of $14.71 million, a PE ratio of -0.22 and a beta of 1.81.

Wall Street Analysts Forecast Growth

LMFA has been the topic of a number of recent research reports. HC Wainwright raised shares of LM Funding America from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Friday, August 15th. Wall Street Zen upgraded LM Funding America from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LM Funding America in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.00.

Hedge Funds Weigh In On LM Funding America

Institutional investors have recently modified their holdings of the company. Armistice Capital LLC raised its holdings 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 valued at $1,138,000 after buying an additional 87,905 shares in the last quarter. Two Sigma Investments LP bought a new position in LM Funding America during the third quarter valued at approximately $100,000. Jane Street Group LLC purchased a new position in shares of LM Funding America during the second quarter worth approximately $70,000. Finally, XTX Topco Ltd bought a new stake in shares of LM Funding America in the 2nd quarter worth approximately $54,000. 22.73% of the stock is currently owned by institutional investors.

LM Funding America Company Profile

LM Funding America, Inc operates as a cryptocurrency mining and specialty finance company. It operates through two segments, Specialty Finance and Mining Operations. The company also engages in Bitcoin mining operations; and provides funding to nonprofit community associations. The company was founded in 2008 and is based in Tampa, Florida.