Adamas Trust’s (ADAM) “Buy” Rating Reaffirmed at JonesTrading

Adamas Trust (NASDAQ:ADAM)‘s stock had its “buy” rating restated by stock analysts at JonesTrading in a research note issued on Thursday, September 17th, Benzinga reports. They presently have a $10.00 target price on the stock. JonesTrading’s price target indicates a potential upside of 22.85% from the company’s current price.

A number of other research firms have also recently issued reports on ADAM. Zacks Research upgraded Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a research note on Tuesday, July 21st. UBS Group lifted their price target on shares of Adamas Trust from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen cut shares of Adamas Trust from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Adamas Trust Price Performance

ADAM traded down $0.29 during trading on Thursday, hitting $8.14. 1,326,441 shares of the stock traded hands, compared to its average volume of 817,953. The business has a 50 day moving average price of $9.38 and a 200 day moving average price of $8.81. The company has a market cap of $731.62 million, a price-to-earnings ratio of 4.85 and a beta of 1.18. Adamas Trust has a twelve month low of $6.45 and a twelve month high of $10.36. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 18.54.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Adamas Trust in the 2nd quarter valued at approximately $34,000. Nykredit A S bought a new stake in shares of Adamas Trust in the second quarter worth $36,000. Integrated Wealth Concepts LLC acquired a new stake in Adamas Trust in the second quarter valued at $48,000. Hillsdale Investment Management Inc. bought a new position in Adamas Trust during the 1st quarter worth $60,000. Finally, OneDigital Investment Advisors LLC bought a new position in Adamas Trust during the 2nd quarter worth $97,000. Institutional investors own 54.89% of the company’s stock.

About Adamas Trust