LuxUrban Hotels (NASDAQ:LUXH) Cut to Market Perform at Northland Securities

Northland Securities cut shares of LuxUrban Hotels (NASDAQ:LUXH) from an outperform rating to a market perform rating in a report issued on Monday morning, MarketBeat.com reports.

Separately, Jonestrading reiterated a buy rating and set a $4.00 price target (down previously from $10.00) on shares of LuxUrban Hotels in a research report on Wednesday, April 17th.

LuxUrban Hotels Trading Down 9.0 %

NASDAQ:LUXH opened at $0.70 on Monday. LuxUrban Hotels has a 12-month low of $0.69 and a 12-month high of $6.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.60 and a quick ratio of 0.60. The business has a 50 day simple moving average of $1.54 and a 200 day simple moving average of $3.42. The firm has a market capitalization of $29.32 million, a P/E ratio of -0.33 and a beta of -0.93.

LuxUrban Hotels (NASDAQ:LUXH) last announced its quarterly earnings results on Monday, April 15th. The company reported ($0.20) earnings per share (EPS) for the quarter. LuxUrban Hotels had a negative net margin of 69.25% and a negative return on equity of 11.23%. The firm had revenue of $27.51 million for the quarter. Equities research analysts predict that LuxUrban Hotels will post 0.3 EPS for the current year.

Institutional Investors Weigh In On LuxUrban Hotels

A number of institutional investors and hedge funds have recently bought and sold shares of LUXH. Barclays PLC acquired a new position in LuxUrban Hotels in the third quarter worth approximately $36,000. Citigroup Inc. purchased a new stake in LuxUrban Hotels during the third quarter valued at about $53,000. Perritt Capital Management Inc. acquired a new stake in shares of LuxUrban Hotels during the third quarter valued at approximately $93,000. Simplicity Wealth LLC purchased a new stake in shares of LuxUrban Hotels in the 1st quarter valued at approximately $98,000. Finally, Bleakley Financial Group LLC purchased a new position in LuxUrban Hotels during the 1st quarter worth approximately $98,000. 28.46% of the stock is owned by institutional investors and hedge funds.

About LuxUrban Hotels

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.