Securitize (NYSE:SECZ) Shares Gap Down – Here’s What Happened

Securitize Holdings (NYSE:SECZ) shares gapped down prior to trading on Thursday. The stock had previously closed at $9.06, but opened at $8.39. Securitize shares last traded at $8.4060, with a volume of 481,812 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings initiated coverage on shares of Securitize in a report on Friday, September 25th. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald began coverage on shares of Securitize in a research report on Monday, September 21st. They set an “overweight” rating and a $21.20 price objective for the company. Rosenblatt Securities reduced their price objective on Securitize from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday. Zacks Research raised Securitize to a “hold” rating in a research report on Tuesday, September 22nd. Finally, Benchmark decreased their target price on Securitize from $16.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.53.

Securitize Stock Down 4.6%

The company has a fifty day moving average of $10.14. The firm has a market capitalization of $1.41 billion, a P/E ratio of -2.99 and a beta of 0.61.

Securitize (NYSE:SECZ) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.41) earnings per share (EPS) for the quarter. The company had revenue of $18.61 million during the quarter. On average, analysts expect that Securitize Holdings will post -0.81 EPS for the current year.

Institutional Trading of Securitize

Institutional investors have recently modified their holdings of the stock. State Street Corp acquired a new stake in shares of Securitize during the 3rd quarter worth $10,050,000. Voya Investment Management LLC bought a new stake in Securitize during the third quarter worth about $1,336,000. Western Wealth Management LLC bought a new stake in Securitize during the third quarter worth about $210,000. Harbour Investments Inc. bought a new stake in Securitize during the third quarter worth about $201,000. Finally, Money Concepts Capital Corp acquired a new stake in Securitize during the third quarter worth about $245,000.

Securitize Company Profile

Securitize provides technology and regulated financial services for issuing and managing digital securities on blockchain networks. Its platform supports the tokenization of assets such as private fund interests and other securities, along with investor onboarding, compliance, recordkeeping and related lifecycle services. The company also offers infrastructure for secondary trading of digital securities through regulated entities, including broker-dealer and alternative trading system services. Founded in 2017, Securitize has worked with asset managers and financial institutions seeking to bring investment products onto blockchain-based systems.