Bimini Capital Management (OTCMKTS:BMNM) Shares Cross Below 200 Day Moving Average – Here’s Why

Bimini Capital Management Inc. (OTCMKTS:BMNM) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.83 and traded as low as $2.4798. Bimini Capital Management shares last traded at $2.4798, with a volume of 1,700 shares traded.

Bimini Capital Management Stock Up 3.3%

The stock has a market cap of $24.97 million, a P/E ratio of 4.13 and a beta of 0.14. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.04. The business has a 50-day simple moving average of $2.66 and a 200-day simple moving average of $2.83.

Bimini Capital Management (OTCMKTS:BMNM) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.08 EPS for the quarter. Bimini Capital Management had a net margin of 32.69% and a return on equity of 56.67%.

Bimini Capital Management declared that its board has initiated a share repurchase plan on Thursday, March 12th that permits the company to repurchase $2.50 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About Bimini Capital Management

Bimini Capital Management, Inc, through its subsidiaries, operates as a specialty finance company in the United States. The company operates in two segments, Asset Management and Investment Portfolio. The Asset Management segment includes investment advisory services by Bimini Advisors to Orchid Island Capital, Inc and Royal Palm Capital, LLC. The Investment Portfolio segment engages in investment activities conducted by Royal Palm Capital, LLC. It invests in residential mortgage-backed securities.