UNITE Group (OTCMKTS:UTGPF) Sets New 1-Year Low – Time to Sell?

UNITE Group PLC (OTCMKTS:UTGPF) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $5.60 and last traded at $5.60, with a volume of 8,435 shares changing hands. The stock had previously closed at $5.93.

Analysts Set New Price Targets

A number of research firms recently issued reports on UTGPF. Oddo Bhf downgraded UNITE Group to a “neutral” rating in a research note on Tuesday, August 4th. Barclays lowered UNITE Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of UNITE Group in a research note on Thursday, July 9th. Finally, Citigroup cut UNITE Group from an “overweight” rating to a “hold” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

UNITE Group Price Performance

The firm’s 50-day moving average is $6.37 and its 200 day moving average is $6.34.

UNITE Group Company Profile

UNITE Group plc, operating as Unite Students, is a United Kingdom-based company specializing in student accommodation. It develops, owns and manages purpose-built student housing, providing furnished rooms, shared facilities and support services for university students.

The company serves students across major university cities in the United Kingdom. Its accommodation is offered through properties located near universities and transport links, with services covering the marketing, letting and day-to-day management of student residences.

Founded in Bristol in 1991, Unite Group has grown into one of the UK’s prominent providers of purpose-built student accommodation.