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

LuxUrban Hotels Inc. (NASDAQ:LUXH) was the target of a large increase in short interest during 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 short-interest ratio is presently 0.3 days. Currently, 3.9% of the company’s stock are short sold.

Hedge Funds Weigh In On LuxUrban Hotels

A number of institutional investors and hedge funds have recently modified their holdings of LUXH. Perritt Capital Management Inc boosted its stake in shares of LuxUrban Hotels by 87.9% in the 2nd quarter. Perritt Capital Management Inc now owns 320,560 shares of the company’s stock worth $75,000 after buying an additional 150,000 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in shares of LuxUrban Hotels in the 1st quarter worth $98,000. Finally, Quadrature Capital Ltd purchased a new position in shares of LuxUrban Hotels in the 4th quarter worth $139,000. 28.46% of the stock is currently owned by hedge funds and other institutional investors.

LuxUrban Hotels Price Performance

LUXH remained flat at $0.05 during trading on Friday. The company’s stock had a trading volume of 10,820,704 shares, compared to its average volume of 4,905,984. The business’s 50-day moving average is $0.07 and its 200 day moving average is $0.28. LuxUrban Hotels has a 1-year low of $0.05 and a 1-year high of $6.88. The firm has a market cap of $2.33 million, a PE ratio of -0.02 and a beta of -1.41.

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

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.