LuxUrban Hotels Inc. (NASDAQ:LUXH) Sees Significant Growth in Short Interest

Posted by Stephan Jacobs on Oct 14th, 2024

LuxUrban Hotels Inc. (NASDAQ:LUXH – Get Free Report) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,550,000 shares, a growth of 65.1% from the September 15th total of 938,600 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 6,890,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On LuxUrban Hotels

A number of institutional investors and hedge funds have recently modified their holdings of the company. Perritt Capital Management Inc raised its holdings in LuxUrban Hotels by 87.9% in the 2nd quarter. Perritt Capital Management Inc now owns 320,560 shares of the company’s stock worth $75,000 after purchasing an additional 150,000 shares in the last quarter. Bleakley Financial Group LLC bought a new position in LuxUrban Hotels in the first quarter worth about $98,000. Finally, Quadrature Capital Ltd purchased a new stake in LuxUrban Hotels in the fourth quarter worth about $139,000. 28.46% of the stock is owned by hedge funds and other institutional investors.

LuxUrban Hotels Stock Up 7.7 %

LuxUrban Hotels stock traded up $0.00 during midday trading on Monday, hitting $0.06. 25,194,781 shares of the stock were exchanged, compared to its average volume of 3,962,232. The business’s 50-day moving average price is $0.08 and its 200-day moving average price is $0.36. LuxUrban Hotels has a 52-week low of $0.05 and a 52-week high of $6.88. The stock has a market capitalization of $2.54 million, a price-to-earnings ratio of -0.02 and a beta of -1.41.

About LuxUrban Hotels

(Get Free Report)

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.