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

LuxUrban Hotels Inc. (NASDAQ:LUXH) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 701,100 shares, a decline of 41.6% from the July 31st total of 1,200,000 shares. Based on an average daily trading volume, of 3,360,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.7% of the company’s shares are short sold.

Analysts Set New Price Targets

Several analysts have commented on the stock. Northland Securities lowered shares of LuxUrban Hotels from an “outperform” rating to a “market perform” rating in a report on Monday, May 6th. Maxim Group reaffirmed a “hold” rating on shares of LuxUrban Hotels in a research note on Wednesday, May 15th.

Insider Activity at LuxUrban Hotels

In other news, CEO Robert Arigo purchased 176,470 shares of the business’s stock in a transaction on Monday, July 15th. The shares were acquired at an average price of $0.17 per share, with a total value of $29,999.90. Following the acquisition, the chief executive officer now directly owns 926,470 shares in the company, valued at $157,499.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Brian Ferdinand sold 709,421 shares of LuxUrban Hotels stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $0.39, for a total value of $276,674.19. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert Arigo bought 176,470 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were acquired at an average price of $0.17 per share, with a total value of $29,999.90. Following the acquisition, the chief executive officer now owns 926,470 shares of the company’s stock, valued at $157,499.90. The disclosure for this purchase can be found here. Insiders bought 794,116 shares of company stock worth $135,000 in the last three months. 51.50% of the stock is owned by insiders.

Hedge Funds Weigh In On LuxUrban Hotels

Hedge funds have recently made changes to their positions in the business. Perritt Capital Management Inc boosted its stake 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 during the period. Simplicity Wealth LLC purchased a new stake in LuxUrban Hotels in the 1st quarter worth $98,000. Bleakley Financial Group LLC purchased a new position in shares of LuxUrban Hotels during the first quarter valued at about $98,000. Quadrature Capital Ltd bought a new stake in shares of LuxUrban Hotels in the fourth quarter worth about $139,000. Finally, Jump Financial LLC purchased a new stake in shares of LuxUrban Hotels in the fourth quarter worth about $217,000. Institutional investors own 28.46% of the company’s stock.

LuxUrban Hotels Stock Performance

LUXH stock opened at $0.08 on Friday. LuxUrban Hotels has a 52-week low of $0.07 and a 52-week high of $6.88. The firm has a 50 day moving average price of $0.15 and a 200-day moving average price of $0.89. The firm has a market capitalization of $3.35 million, a price-to-earnings ratio of -0.03 and a beta of -1.37.

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.