Summit Hotel Properties Inc (NYSE:INN) shares, rose in value on Friday, November 01, with the stock price down by -0.16% to the previous day’s close as strong demand from buyers drove the stock to $6.11.
Actively observing the price movement in the last trading, the stock closed the session at $6.12, falling within a range of $6.09 and $6.225. The value of beta (5-year monthly) was 2.047. Referring to stock’s 52-week performance, its high was $7.22, and the low was $5.47. On the whole, INN has fluctuated by -11.58% over the past month.
With the market capitalization of Summit Hotel Properties Inc currently standing at about $759.38 million, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-04. The company’s Forward Dividend Ratio is 0.28, with its dividend yield at 4.58%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 732.14M, with a low estimate of 173.99M and a high estimate of 197.14M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 181.3M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that INN’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 75% Sell.
The stock’s technical analysis shows that the price of INN currently trading nearly -5.24% and -7.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.83, while the 7-day volatility ratio is showing 2.53% which for the 30-day chart, stands at 2.30%. Furthermore, Summit Hotel Properties Inc (INN)’s beta value is 2.05, and its average true range (ATR) is 0.15.
A comparison of Summit Hotel Properties Inc (INN) with its peers suggests the former has fared considerably weaker in the market. INN showed an intraday change of -0.16% in last session, and over the past year, it grew by 10.49%%.
Data on historical trading for Summit Hotel Properties Inc (NYSE:INN) indicates that the trading volumes over the past 10 days have averaged 0.59 and over the past 3 months, they’ve averaged 799.49K. According to company’s latest data on outstanding shares, there are 107.59 million shares outstanding.
Nearly 3.03% of Summit Hotel Properties Inc’s shares belong to company insiders and institutional investors own 90.38% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.7 million shares as on 2024-10-15, resulting in a short ratio of 4.94. According to the data, the short interest in Summit Hotel Properties Inc (INN) stood at 677.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 4.93 million. The stock has fallen by -9.08% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the INN stock heading into the next quarter.