Jonestrading Reiterates Buy Rating for LuxUrban Hotels (NASDAQ:LUXH)

Jonestrading reissued their buy rating on shares of LuxUrban Hotels (NASDAQ:LUXH) in a research note issued to investors on Wednesday morning, Benzinga reports. Jonestrading currently has a $4.00 target price on the stock, down from their prior target price of $10.00.

LuxUrban Hotels Price Performance

Shares of LUXH opened at $1.07 on Wednesday. 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 $0.73 and a 1-year high of $6.88. The stock has a market cap of $39.42 million, a PE ratio of -0.50 and a beta of -1.47. The firm has a fifty day moving average price of $2.13 and a 200 day moving average price of $3.81.

Institutional Trading of LuxUrban Hotels

Large investors have recently made changes to their positions in the company. Barclays PLC acquired a new position in LuxUrban Hotels during the third quarter worth approximately $36,000. Citigroup Inc. acquired a new position in shares of LuxUrban Hotels in the 3rd quarter valued at $53,000. Goldman Sachs Group Inc. purchased a new stake in LuxUrban Hotels in the 4th quarter valued at $68,000. Citadel Advisors LLC acquired a new stake in LuxUrban Hotels during the 2nd quarter worth $36,000. Finally, Renaissance Technologies LLC purchased a new position in LuxUrban Hotels during the 2nd quarter worth $41,000. 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.