Short Interest in LuxUrban Hotels Inc. (NASDAQ:LUXH) Grows By 148.4%

LuxUrban Hotels Inc. (NASDAQ:LUXH) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 3,850,000 shares, an increase of 148.4% from the September 30th total of 1,550,000 shares. Based on an average daily volume of 12,610,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 3.9% of the shares of the company are sold short.

LuxUrban Hotels Price Performance

LuxUrban Hotels stock remained flat at $0.05 during trading on Friday. The company had a trading volume of 10,820,704 shares, compared to its average volume of 4,905,984. LuxUrban Hotels has a one year low of $0.05 and a one year high of $6.88. The business’s 50 day moving average is $0.07 and its 200-day moving average is $0.28. The stock has a market capitalization of $2.33 million, a price-to-earnings ratio of -0.02 and a beta of -1.41.

LuxUrban Hotels (NASDAQ:LUXH) last announced its earnings results on Wednesday, September 25th. The company reported ($0.41) EPS for the quarter. The company had revenue of $18.19 million during the quarter, compared to the consensus estimate of $33.20 million.

Institutional Investors Weigh In On LuxUrban Hotels

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Perritt Capital Management Inc raised its holdings in LuxUrban Hotels by 87.9% during the second quarter. Perritt Capital Management Inc now owns 320,560 shares of the company’s stock valued at $75,000 after acquiring an additional 150,000 shares during the period. Bleakley Financial Group LLC bought a new stake in LuxUrban Hotels during the first quarter valued at about $98,000. Finally, Quadrature Capital Ltd bought a new stake in LuxUrban Hotels during the fourth quarter valued at about $139,000. 28.46% of the stock is owned by institutional investors.

About LuxUrban Hotels

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.