LuxUrban Hotels (NASDAQ:LUXH) Earns Buy Rating from Jonestrading

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

LuxUrban Hotels Price Performance

LUXH stock opened at $0.85 on Wednesday. The business has a fifty day moving average of $2.04 and a two-hundred day moving average of $3.76. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.23. The stock has a market cap of $35.74 million, a price-to-earnings ratio of -0.40 and a beta of -1.47. LuxUrban Hotels has a 52-week low of $0.73 and a 52-week high of $6.88.

Institutional Investors Weigh In On LuxUrban Hotels

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUXH. Ancora Advisors LLC acquired a new stake in LuxUrban Hotels during the first quarter worth $347,000. LPL Financial LLC acquired a new stake in LuxUrban Hotels during the second quarter worth $180,000. Geode Capital Management LLC acquired a new stake in LuxUrban Hotels during the second quarter worth $352,000. BlackRock Inc. acquired a new stake in LuxUrban Hotels during the second quarter worth $71,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of LuxUrban Hotels in the second quarter valued at $41,000. Institutional investors and hedge funds own 28.46% of the company’s stock.

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.