Adamas Trust (NASDAQ:ADAM) Stock Rating Cut to Hold at Zacks Research

Adamas Trust (NASDAQ:ADAM) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

ADAM has been the topic of a number of other reports. UBS Group raised their price target on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. JonesTrading reissued a “buy” rating and issued a $10.00 target price on shares of Adamas Trust in a research report on Thursday, September 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Adamas Trust from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.50.

Adamas Trust Stock Performance

Shares of ADAM stock opened at $7.93 on Monday. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 11.89. The company has a 50 day moving average price of $9.33 and a 200-day moving average price of $8.81. Adamas Trust has a 52 week low of $6.45 and a 52 week high of $10.36. The firm has a market capitalization of $712.75 million, a PE ratio of 4.72 and a beta of 1.18.

Adamas Trust (NASDAQ:ADAM) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. Adamas Trust had a net margin of 29.82% and a return on equity of 14.72%. The company had revenue of $47.92 million for the quarter, compared to the consensus estimate of $47.50 million. As a group, equities research analysts expect that Adamas Trust will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Adamas Trust

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Adamas Trust in the second quarter worth $34,000. Nykredit A S purchased a new stake in Adamas Trust in the 2nd quarter worth $36,000. Integrated Wealth Concepts LLC purchased a new stake in Adamas Trust in the 2nd quarter worth $48,000. Hillsdale Investment Management Inc. bought a new stake in Adamas Trust during the first quarter valued at about $60,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Adamas Trust in the second quarter valued at about $97,000. Hedge funds and other institutional investors own 54.89% of the company’s stock.

About Adamas Trust