Short Interest in Sachem Capital Corp. (NYSEAMERICAN:SACH) Drops By 12.9%

Sachem Capital Corp. (NYSEAMERICAN:SACH) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 1,010,000 shares, a decrease of 12.9% from the May 31st total of 1,160,000 shares. Based on an average daily trading volume, of 365,100 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SACH. Oppenheimer dropped their price objective on Sachem Capital from $5.00 to $4.50 and set an “outperform” rating on the stock in a report on Monday, May 20th. Alliance Global Partners began coverage on Sachem Capital in a report on Monday, March 18th. They set a “buy” rating and a $4.50 price objective on the stock.

Sachem Capital Stock Up 0.8 %

Shares of NYSEAMERICAN:SACH opened at $2.59 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market capitalization of $122.90 million, a P/E ratio of 9.96, a P/E/G ratio of 0.14 and a beta of 1.74. Sachem Capital has a 52 week low of $2.53 and a 52 week high of $4.64. The firm has a 50-day moving average price of $3.68.

Institutional Investors Weigh In On Sachem Capital

Several institutional investors have recently modified their holdings of SACH. Barclays PLC purchased a new stake in shares of Sachem Capital during the 3rd quarter worth approximately $86,000. Citigroup Inc. purchased a new stake in Sachem Capital in the 3rd quarter valued at approximately $706,000. B. Riley Wealth Advisors Inc. purchased a new stake in Sachem Capital in the 3rd quarter valued at approximately $41,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Sachem Capital in the 4th quarter valued at approximately $53,000. Finally, Jump Financial LLC lifted its stake in Sachem Capital by 112.2% in the 4th quarter. Jump Financial LLC now owns 75,628 shares of the company’s stock valued at $283,000 after buying an additional 39,984 shares in the last quarter. Hedge funds and other institutional investors own 18.07% of the company’s stock.

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.