Adamas Trust (NASDAQ:ADAM) Earns Buy Rating from JonesTrading

Adamas Trust (NASDAQ:ADAM)‘s stock had its “buy” rating reiterated by JonesTrading in a report issued on Thursday, Benzinga reports. They currently have a $10.00 price target on the stock. JonesTrading’s target price would indicate a potential upside of 9.23% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a report on Tuesday, July 21st. Zacks Research raised Adamas Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. UBS Group upped their price objective on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen lowered shares of Adamas Trust from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Adamas Trust Price Performance

NASDAQ ADAM traded up $0.18 on Thursday, reaching $9.15. 205,480 shares of the stock traded hands, compared to its average volume of 777,848. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 11.89. The company has a market cap of $822.85 million, a price-to-earnings ratio of 5.44 and a beta of 1.18. The firm’s fifty day simple moving average is $9.44 and its 200 day simple moving average is $8.79. Adamas Trust has a 12 month low of $6.45 and a 12 month high of $10.36.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. The firm had revenue of $47.92 million for the quarter, compared to analyst estimates of $47.50 million. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. As a group, research analysts predict that Adamas Trust will post 1.2 EPS for the current fiscal year.

Institutional Trading of Adamas Trust

A number of hedge funds have recently made changes to their positions in ADAM. BlackRock Inc. bought a new position in Adamas Trust in the 2nd quarter valued at approximately $127,863,000. Bessemer Group Inc. raised its stake in shares of Adamas Trust by 48,152.5% during the first quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock valued at $3,907,000 after acquiring an additional 529,678 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Adamas Trust during the second quarter valued at $4,657,000. Principal Financial Group Inc. lifted its holdings in shares of Adamas Trust by 2.0% during the first quarter. Principal Financial Group Inc. now owns 408,275 shares of the company’s stock worth $3,005,000 after purchasing an additional 7,947 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of Adamas Trust in the second quarter worth $3,461,000. 54.89% of the stock is owned by institutional investors and hedge funds.

About Adamas Trust