InnSuites Hospitality Trust (NYSE:IHT) Stock Price Up 7.2% – Here’s Why

InnSuites Hospitality Trust (NYSE:IHT) rose 7.2% during mid-day trading on Tuesday . The stock traded as high as $1.67 and last traded at $1.64. 318,576 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 266,821 shares. The stock had previously closed at $1.53.

InnSuites Hospitality Trust Stock Down 3.4%

The company has a 50-day simple moving average of $1.34 and a 200-day simple moving average of $1.24. The firm has a market cap of $15.55 million, a PE ratio of -17.10 and a beta of 0.29. The company has a debt-to-equity ratio of 5.82, a current ratio of 1.62 and a quick ratio of 1.62.

Hedge Funds Weigh In On InnSuites Hospitality Trust

A hedge fund recently bought a new position in InnSuites Hospitality Trust stock. Citadel Advisors LLC acquired a new stake in InnSuites Hospitality Trust (NYSE:IHT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,121 shares of the company’s stock, valued at approximately $39,000. Citadel Advisors LLC owned about 0.24% of InnSuites Hospitality Trust as of its most recent SEC filing. 2.46% of the stock is owned by institutional investors and hedge funds.

About InnSuites Hospitality Trust

InnSuites Hospitality Trust (NYSE:IHT) is a real estate investment trust specializing in the ownership and operation of lodging properties across the western United States. Structured as a REIT, the company focuses on acquiring, managing and leasing midscale and economy hotel assets. Its portfolio includes full-service, limited-service and extended-stay properties that cater to both transient and group travelers.

The company’s principal activities encompass property management, guest services and facilities upkeep at each of its hotel locations.