Short Interest in WM Technology, Inc. (NASDAQ:MAPS) Drops By 22.2%

WM Technology, Inc. (NASDAQ:MAPS) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,300,000 shares, a decline of 22.2% from the March 15th total of 1,670,000 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 540,500 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Investors Weigh In On WM Technology

Hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new stake in shares of WM Technology in the 1st quarter valued at about $68,000. Principal Financial Group Inc. purchased a new stake in shares of WM Technology during the second quarter valued at approximately $35,000. Royal Bank of Canada boosted its stake in shares of WM Technology by 511.8% during the first quarter. Royal Bank of Canada now owns 14,628 shares of the company’s stock valued at $114,000 after purchasing an additional 12,237 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of WM Technology in the second quarter worth approximately $58,000. Finally, Citigroup Inc. increased its stake in shares of WM Technology by 1,818.2% in the first quarter. Citigroup Inc. now owns 18,050 shares of the company’s stock worth $141,000 after buying an additional 17,109 shares during the period. 22.02% of the stock is currently owned by institutional investors.

WM Technology Stock Performance

MAPS traded down $0.02 during trading on Monday, reaching $1.18. The stock had a trading volume of 466,245 shares, compared to its average volume of 526,561. The business has a 50-day moving average of $1.04 and a 200-day moving average of $0.99. WM Technology has a one year low of $0.60 and a one year high of $1.88. The stock has a market cap of $176.26 million, a PE ratio of -0.96 and a beta of 0.82.

WM Technology Company Profile

WM Technology, Inc provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and education and learning information to help newer consumers learn about the types of products to purchase.