Maxim analyst Matthew Galinko lowered the firm’s price target on LM Funding (LMFA) to $1 from $4 and keeps a Buy rating on the shares. The firm cites the company’s Q4 revenue coming in below its estimates as well as EBITDA loss wider than expected given the $3M writedown on collateralized bitcoin holdings due to a decline in the price of BTC during the period, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LMFA:
- LM Funding America Announces $75 Million ATM Offering
- LMFA Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Crypto Currents: Core Scientific secures up to $1B from Morgan Stanley
- LM Funding mines 8.7 bitcoin in February
- Crypto Currents: Strategy, Galaxy Digital report Q4 earnings results