Marti Technologies (NYSEAMERICAN:MRT) Earns Buy Rating from Analysts at Alliance Global Partners

Investment analysts at Alliance Global Partners initiated coverage on shares of Marti Technologies (NYSEAMERICAN:MRT) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Alliance Global Partners’ price target would indicate a potential upside of 175.86% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $2.40 price target on shares of Marti Technologies in a report on Tuesday, May 26th. Citigroup reissued a “neutral” rating on shares of Marti Technologies in a research note on Tuesday, May 26th. Finally, Roth Mkm set a $4.00 price objective on shares of Marti Technologies in a research report on Monday, April 13th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.47.

Marti Technologies Trading Up 10.7%

MRT stock opened at $1.45 on Thursday. Marti Technologies has a 1-year low of $1.12 and a 1-year high of $3.11. The business’s 50-day moving average price is $1.88 and its two-hundred day moving average price is $2.12.

Marti Technologies (NYSEAMERICAN:MRT) last released its quarterly earnings results on Saturday, May 16th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $15.43 million during the quarter. As a group, analysts expect that Marti Technologies will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Marti Technologies

An institutional investor recently raised its stake in Marti Technologies stock. Arbiter Partners Capital Management LLC boosted its position in Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,254 shares of the company’s stock after purchasing an additional 56,319 shares during the quarter. Arbiter Partners Capital Management LLC owned about 0.33% of Marti Technologies worth $573,000 at the end of the most recent reporting period. 20.71% of the stock is currently owned by institutional investors and hedge funds.

About Marti Technologies

Marti Technologies Inc is a mobility app, offering multiple transportation services to its riders. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers, and operates a large fleet of rental e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure.