JonesTrading Issues Pessimistic Forecast for Adamas Trust (NASDAQ:ADAM) Stock Price

Adamas Trust (NASDAQ:ADAM) had its price objective reduced by stock analysts at JonesTrading from $10.00 to $9.50 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. JonesTrading‘s price objective suggests a potential upside of 32.31% from the stock’s current price.

ADAM has been the subject of several other research reports. UBS Group lifted their price objective on shares of Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Weiss Ratings restated a “hold (c)” rating on shares of Adamas Trust in a research report on Monday, October 19th. Zacks Research cut shares of Adamas Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Wall Street Zen downgraded shares of Adamas Trust from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. One research 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, the stock currently has a consensus rating of “Hold” and an average price target of $9.38.

Adamas Trust Stock Performance

ADAM stock traded down $0.60 during trading hours on Thursday, hitting $7.18. 2,579,659 shares of the stock were exchanged, compared to its average volume of 853,131. The company has a current ratio of 18.54, a quick ratio of 18.54 and a debt-to-equity ratio of 11.89. The firm has a market capitalization of $645.34 million, a P/E ratio of 4.27 and a beta of 1.22. The company has a 50-day simple moving average of $8.59 and a two-hundred day simple moving average of $8.56. Adamas Trust has a 12 month low of $6.45 and a 12 month high of $10.36.

Adamas Trust (NASDAQ:ADAM) last posted its earnings results on Wednesday, October 28th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of ($119.44) million during the quarter. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%. On average, analysts forecast that Adamas Trust will post 1.20 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Adamas Trust in the second quarter valued at approximately $127,863,000. Bessemer Group Inc. raised its position in Adamas Trust by 48,152.5% during the first quarter. Bessemer Group Inc. now owns 530,778 shares of the company’s stock valued at $3,907,000 after purchasing an additional 529,678 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Adamas Trust during the second quarter valued at approximately $4,657,000. Bank of America Corp DE bought a new stake in Adamas Trust during the second quarter worth $3,461,000. Finally, Legal & General Group Plc bought a new stake in Adamas Trust during the second quarter worth $1,892,000. Institutional investors own 54.89% of the company’s stock.

About Adamas Trust

New York Mortgage Trust, Inc acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States. Its targeted investments include residential loans, second mortgages, and business purpose loans; structured multi-family property investments, such as preferred equity in, and mezzanine loans to owners of multi-family properties, as well as joint venture equity investments in multi-family properties; non-agency residential mortgage-backed securities (RMBS); agency RMBS; commercial mortgage-backed securities (CMBS); and other mortgage, residential housing, and credit-related assets.