Securitize (NYSE:SECZ) Stock Jumps 9.1% – Here’s Why

Securitize Holdings (NYSE:SECZ)’s stock price rose 9.1% during mid-day trading on Tuesday. The stock traded as high as $7.93 and last traded at $7.8990. 209,357 shares were traded during trading, a decline of 93% from the average daily volume of 2,826,417 shares. The stock had previously closed at $7.24.

Analysts Set New Price Targets

Several research analysts recently weighed in on SECZ shares. Needham & Company LLC initiated coverage on Securitize in a research note on Tuesday, September 8th. They set a “buy” rating and a $11.00 target price on the stock. Wall Street Zen cut shares of Securitize to a “strong sell” rating in a research note on Saturday, September 5th. Benchmark reduced their price target on Securitize from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 17th. Zacks Research raised shares of Securitize to a “hold” rating in a research note on Tuesday, September 22nd. Finally, Citigroup downgraded Securitize from a “buy” rating to a “neutral” rating and lifted their price target for the company from $10.00 to $14.00 in a report on Tuesday, October 13th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.37.

Securitize Price Performance

The company has a market cap of $1.29 billion, a price-to-earnings ratio of -3.19 and a beta of -0.13. The company has a 50-day simple moving average of $9.96.

Securitize (NYSE:SECZ) last released its earnings results on Wednesday, August 12th. The company reported ($2.37) earnings per share (EPS) for the quarter. The business had revenue of $14.44 million during the quarter. On average, equities analysts predict that Securitize Holdings will post -0.81 EPS for the current fiscal year.

Securitize Company Profile

Securitize is a financial technology company focused on the issuance, management and trading of tokenized securities and other real-world assets. Its platform uses blockchain technology to create digital representations of assets such as private company shares, investment funds, credit products and real estate interests.

The company provides infrastructure and services for issuers, investors and financial institutions, including digital securities issuance, investor onboarding, compliance, transfer agency, fund administration and secondary-market trading.