American Strategic Investment Co. (NYSE:NYC) Sees Significant Drop in Short Interest

American Strategic Investment Co. (NYSE:NYC) was the recipient of a significant drop in short interest in August. As of August 14th, there was short interest totaling 4,169 shares, a drop of 60.4% from the July 30th total of 10,520 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 45,669 shares, the short-interest ratio is currently 0.1 days.

Insider Activity

In other American Strategic Investment news, major shareholder Nicholas S. Schorsch purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average cost of $6.81 per share, for a total transaction of $34,050.00. Following the purchase, the insider owned 794,620 shares of the company’s stock, valued at $5,411,362.20. This represents a 0.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 23,000 shares of company stock valued at $197,540 over the last 90 days. Insiders own 3.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded American Strategic Investment from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

American Strategic Investment Price Performance

Shares of NYC traded down $0.21 during midday trading on Friday, hitting $6.26. 4,386 shares of the company traded hands, compared to its average volume of 43,755. The stock has a 50-day moving average of $8.23 and a 200-day moving average of $8.41. American Strategic Investment has a one year low of $5.97 and a one year high of $13.97. The firm has a market cap of $19.78 million, a P/E ratio of 1.28 and a beta of 0.18. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.03 and a quick ratio of 0.03.

American Strategic Investment (NYSE:NYC) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($3.04) earnings per share (EPS) for the quarter. The firm had revenue of $7.32 million during the quarter. American Strategic Investment had a negative return on equity of 50.85% and a net margin of 38.87%.

About American Strategic Investment

American Strategic Investment Co (NYSE: NYC) owns a portfolio of high-quality commercial real estate located within the five boroughs of New York City.