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

LuxUrban Hotels (NASDAQ:LUXH) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, 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 report on Wednesday, April 17th.

LuxUrban Hotels Stock Down 6.9 %

NASDAQ LUXH opened at $0.77 on Monday. The business’s fifty day simple moving average is $1.57 and its 200-day simple moving average is $3.44. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.23. The firm has a market cap of $32.22 million, a PE ratio of -0.36 and a beta of -0.93. LuxUrban Hotels has a 52 week low of $0.71 and a 52 week high of $6.88.

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

Hedge Funds Weigh In On LuxUrban Hotels

Several hedge funds have recently made changes to their positions in LUXH. Barclays PLC acquired a new stake in shares of LuxUrban Hotels in the 3rd quarter valued at about $36,000. EAM Investors LLC purchased a new position in shares of LuxUrban Hotels during the third quarter worth approximately $537,000. Ancora Advisors LLC increased its holdings in shares of LuxUrban Hotels by 71.9% in the 3rd quarter. Ancora Advisors LLC now owns 255,776 shares of the company’s stock valued at $1,192,000 after acquiring an additional 107,012 shares during the period. Perritt Capital Management Inc. purchased a new stake in LuxUrban Hotels in the 3rd quarter valued at $93,000. Finally, Citigroup Inc. acquired a new stake in LuxUrban Hotels during the 3rd quarter worth $53,000. Hedge funds and other institutional investors 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.