Marti Technologies (NYSEAMERICAN:MRT) Given New $2.20 Price Target at Cantor Fitzgerald

Marti Technologies (NYSEAMERICAN:MRT) had its price target cut by stock analysts at Cantor Fitzgerald from $2.40 to $2.20 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 2.33% from the company’s previous close.

MRT has been the topic of several other reports. Benchmark raised their target price on Marti Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday. Alliance Global Partners began coverage on shares of Marti Technologies in a research report on Thursday, July 2nd. They set a “buy” rating and a $4.00 price target for the company. Roth Capital set a $3.50 price objective on shares of Marti Technologies in a research note on Thursday. Finally, Citigroup reissued a “buy” rating on shares of Marti Technologies in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Marti Technologies currently has an average rating of “Moderate Buy” and an average price target of $3.92.

Marti Technologies Price Performance

NYSEAMERICAN MRT opened at $2.15 on Monday. Marti Technologies has a 1-year low of $1.12 and a 1-year high of $2.75. The business’s fifty day moving average price is $1.70 and its 200-day moving average price is $1.94.

Marti Technologies (NYSEAMERICAN:MRT) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.15) EPS for the quarter. The company had revenue of $19.98 million during the quarter. Research analysts anticipate that Marti Technologies will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Marti Technologies

A hedge fund recently raised its stake in Marti Technologies stock. Arbiter Partners Capital Management LLC raised its stake in shares of Marti Technologies, Inc. (NYSEAMERICAN:MRT) by 24.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 286,254 shares of the company’s stock after purchasing an additional 56,319 shares during the period. Arbiter Partners Capital Management LLC owned 0.33% of Marti Technologies worth $573,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.71% of the company’s stock.

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.