Bimini Capital Management (OTCMKTS:BMNM) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Bimini Capital Management Inc. (OTCMKTS:BMNM) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.79 and traded as high as $2.88. Bimini Capital Management shares last traded at $2.88, with a volume of 104 shares changing hands.

Bimini Capital Management Stock Down 0.9%

The firm has a market cap of $27.19 million, a PE ratio of 4.54 and a beta of 0.14. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day simple moving average is $2.77 and its two-hundred day simple moving average is $2.71.

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

Bimini Capital Management announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 12th that permits the company to buyback $2.50 million in shares. This buyback authorization permits the financial services provider to buy up to 7.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Bimini Capital Management Company Profile

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.