LuxUrban Hotels’ (LUXH) “Buy” Rating Reaffirmed at Jonestrading

Jonestrading reiterated their buy rating on shares of LuxUrban Hotels (NASDAQ:LUXH) in a research report sent to investors on Wednesday, Benzinga reports. Jonestrading currently has a $10.00 price target on the stock.

LuxUrban Hotels Trading Down 29.9 %

Shares of LUXH opened at $1.50 on Wednesday. The firm has a market cap of $55.26 million, a P/E ratio of -1.34 and a beta of -1.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.30 and a quick ratio of 1.30. LuxUrban Hotels has a 1 year low of $1.47 and a 1 year high of $6.88. The company has a 50 day simple moving average of $2.99 and a two-hundred day simple moving average of $4.08.

Hedge Funds Weigh In On LuxUrban Hotels

Institutional investors have recently bought and sold shares of the stock. Ancora Advisors LLC lifted its stake in LuxUrban Hotels by 71.9% in the 3rd quarter. Ancora Advisors LLC now owns 255,776 shares of the company’s stock worth $1,192,000 after purchasing an additional 107,012 shares in the last quarter. Barclays PLC purchased a new stake in shares of LuxUrban Hotels in the third quarter worth about $36,000. Perritt Capital Management Inc. purchased a new stake in shares of LuxUrban Hotels in the third quarter worth about $93,000. EAM Investors LLC bought a new position in LuxUrban Hotels during the third quarter valued at approximately $537,000. Finally, Citigroup Inc. purchased a new position in LuxUrban Hotels during the 3rd quarter valued at approximately $53,000. 28.46% of the stock is owned by hedge funds and other institutional investors.

LuxUrban Hotels Company Profile

LuxUrban Hotels Inc utilizes an asset light business model to lease entire hotels on a long-term basis and rent out hotel rooms in the properties it leases. It manages a portfolio of hotel rooms in New York, Washington DC, Miami Beach, New Orleans, and Los Angeles. The company was formerly known as CorpHousing Group Inc and changed its name to LuxUrban Hotels Inc in November 2022.