Short Interest in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Expands By 42.9%

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 8,205 shares, a growth of 42.9% from the December 31st total of 5,740 shares. Based on an average daily volume of 37,097 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 37,097 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Bridge Capital in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Manhattan Bridge Capital Stock Performance

Shares of Manhattan Bridge Capital stock opened at $4.50 on Tuesday. The business’s 50 day moving average price is $4.69 and its 200 day moving average price is $5.06. The company has a market cap of $51.48 million, a price-to-earnings ratio of 9.78 and a beta of 0.25. Manhattan Bridge Capital has a one year low of $4.29 and a one year high of $6.05.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently bought and sold shares of LOAN. Atria Wealth Solutions Inc. lifted its holdings in shares of Manhattan Bridge Capital by 57.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 39,871 shares of the credit services provider’s stock worth $218,000 after acquiring an additional 14,513 shares during the last quarter. Melia Wealth LLC raised its position in Manhattan Bridge Capital by 4.9% in the second quarter. Melia Wealth LLC now owns 378,533 shares of the credit services provider’s stock valued at $2,071,000 after purchasing an additional 17,615 shares during the period. Frazier Financial Advisors LLC acquired a new position in Manhattan Bridge Capital during the second quarter worth $112,000. International Assets Investment Management LLC purchased a new position in shares of Manhattan Bridge Capital during the second quarter worth $149,000. Finally, Fortress Financial Solutions LLC grew its stake in shares of Manhattan Bridge Capital by 3.9% in the second quarter. Fortress Financial Solutions LLC now owns 120,282 shares of the credit services provider’s stock valued at $658,000 after buying an additional 4,522 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.