Sachem Capital Corp. (NYSEAMERICAN:SACH) Sees Significant Growth in Short Interest

Sachem Capital Corp. (NYSEAMERICAN:SACH) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,840,000 shares, an increase of 26.9% from the January 31st total of 1,450,000 shares. Based on an average daily volume of 457,800 shares, the days-to-cover ratio is currently 4.0 days.

Sachem Capital Stock Performance

SACH traded up $0.02 during mid-day trading on Wednesday, reaching $1.05. 84,610 shares of the stock were exchanged, compared to its average volume of 374,772. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.79 and a quick ratio of 1.79. The business has a 50 day moving average of $1.16. Sachem Capital has a 1 year low of $1.00 and a 1 year high of $4.64. The stock has a market capitalization of $49.32 million, a PE ratio of -5.53, a PEG ratio of 0.09 and a beta of 1.65.

Wall Street Analyst Weigh In

SACH has been the topic of several recent analyst reports. Alliance Global Partners lowered shares of Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a report on Friday, November 15th. Oppenheimer restated an “outperform” rating and set a $2.50 target price (down previously from $4.00) on shares of Sachem Capital in a research report on Friday, December 6th.

Hedge Funds Weigh In On Sachem Capital

Hedge funds have recently made changes to their positions in the stock. Cox Capital Mgt LLC bought a new stake in shares of Sachem Capital during the 4th quarter valued at about $812,000. Geode Capital Management LLC increased its stake in Sachem Capital by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 516,918 shares of the company’s stock worth $1,303,000 after purchasing an additional 33,317 shares during the period. Barclays PLC purchased a new stake in Sachem Capital during the 3rd quarter valued at $109,000. US Financial Advisors LLC grew its stake in shares of Sachem Capital by 3.0% in the third quarter. US Financial Advisors LLC now owns 423,578 shares of the company’s stock worth $1,067,000 after purchasing an additional 12,428 shares during the last quarter. Finally, JB Capital LLC increased its stake in shares of Sachem Capital by 32.7% during the third quarter. JB Capital LLC now owns 20,301 shares of the company’s stock valued at $51,000 after buying an additional 5,006 shares during the period. 18.07% of the stock is currently owned by hedge funds and other institutional investors.

About Sachem Capital

Sachem Capital Corp. operates as a real estate finance company in the United States. The company engages in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property. It offers short term loans to real estate investors or developers to fund its acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties.