LuxUrban Hotels Inc. (NASDAQ:LUXH) Short Interest Down 41.6% in August

LuxUrban Hotels Inc. (NASDAQ:LUXH) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 701,100 shares, a drop of 41.6% from the July 31st total of 1,200,000 shares. Based on an average daily volume of 3,360,000 shares, the short-interest ratio is presently 0.2 days. Currently, 0.7% of the shares of the stock are short sold.

Analyst Ratings Changes

LUXH has been the subject of a number of analyst reports. Northland Securities downgraded LuxUrban Hotels from an “outperform” rating to a “market perform” rating in a research report on Monday, May 6th. Maxim Group restated a “hold” rating on shares of LuxUrban Hotels in a report on Wednesday, May 15th.

LuxUrban Hotels Stock Performance

LUXH opened at $0.08 on Thursday. LuxUrban Hotels has a 1-year low of $0.07 and a 1-year high of $6.88. The company has a market cap of $3.43 million, a price-to-earnings ratio of -0.03 and a beta of -1.37. The company’s fifty day moving average price is $0.15 and its two-hundred day moving average price is $0.92.

Insider Activity

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

Institutional Investors Weigh In On LuxUrban Hotels

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new stake in LuxUrban Hotels during the fourth quarter worth $1,532,000. Jump Financial LLC bought a new stake in shares of LuxUrban Hotels in the 4th quarter worth $217,000. Perritt Capital Management Inc. raised its holdings in shares of LuxUrban Hotels by 684.0% in the fourth quarter. Perritt Capital Management Inc. now owns 156,800 shares of the company’s stock valued at $936,000 after purchasing an additional 136,800 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of LuxUrban Hotels during the fourth quarter valued at about $139,000. Finally, Simplicity Wealth LLC purchased a new position in LuxUrban Hotels during the first quarter worth about $98,000. 28.46% of the stock is owned by institutional investors.

LuxUrban Hotels Company Profile

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.