Summit Hotel Properties Inc (NYSE:INN) shares, rose in value on Friday, November 22, with the stock price up by 2.25% to the previous day’s close as strong demand from buyers drove the stock to $6.37.
Actively observing the price movement in the last trading, the stock closed the session at $6.23, falling within a range of $6.28 and $6.38. The value of beta (5-year monthly) was 2.054 whereas the PE ratio was 589.81 over 12-month period. Referring to stock’s 52-week performance, its high was $7.22, and the low was $5.66. On the whole, INN has fluctuated by 1.59% over the past month.
With the market capitalization of Summit Hotel Properties Inc currently standing at about $792.18 million, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 0.30, with its dividend yield at 4.71%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 729.13M, with a low estimate of 168.44M and a high estimate of 172.38M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 170.88M.
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 50% Sell 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 50% Buy.
The stock’s technical analysis shows that the price of INN currently trading nearly 1.29% and -2.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.04, while the 7-day volatility ratio is showing 2.14% which for the 30-day chart, stands at 2.65%. Furthermore, Summit Hotel Properties Inc (INN)’s beta value is 2.05, and its average true range (ATR) is 0.17.
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 2.25% in last session, and over the past year, it grew by 2.25%%.
Data on historical trading for Summit Hotel Properties Inc (NYSE:INN) indicates that the trading volumes over the past 10 days have averaged 0.54 and over the past 3 months, they’ve averaged 740.44K. 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 92.55% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.71 million shares as on 2024-10-31, resulting in a short ratio of 4.76. According to the data, the short interest in Summit Hotel Properties Inc (INN) stood at 534.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 5.1 million. The stock has fallen by -5.21% 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.
