UNITE Group (OTCMKTS:UTGPF) Shares Gap Up – Here’s Why

UNITE Group PLC (OTCMKTS:UTGPF)’s share price gapped up before the market opened on Friday. The stock had previously closed at $5.93, but opened at $6.2775. UNITE Group shares last traded at $6.2775, with a volume of 2,687 shares trading hands.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup lowered shares of UNITE Group from an “overweight” rating to a “hold” rating in a research note on Monday, August 3rd. Oddo Bhf downgraded shares of UNITE Group to a “neutral” rating in a research report on Tuesday, August 4th. Barclays cut shares of UNITE Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of UNITE Group in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, UNITE Group presently has an average rating of “Hold”.

UNITE Group Trading Up 5.9%

The firm’s 50 day moving average is $6.21 and its two-hundred day moving average is $6.55.

UNITE Group Company Profile

UNITE Group plc is a United Kingdom-based owner, developer and manager of purpose-built student accommodation. Through its Unite Students platform, the company provides furnished housing, shared facilities and support services for university students.

The company’s activities include acquiring and developing student residences, operating accommodation under management agreements with universities, and leasing rooms directly to students. Its properties are located in major university cities and towns across the United Kingdom.

Founded in 1991, UNITE Group expanded its national student-housing portfolio through organic development and acquisitions, including the purchase of Liberty Living in 2019.