Adamas Trust (NASDAQ:ADAM) Sees Strong Trading Volume – Time to Buy?

Adamas Trust, Inc. (NASDAQ:ADAM) shares saw unusually-strong trading volume on Monday . Approximately 860,258 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 795,001 shares.The stock last traded at $8.9260 and had previously closed at $8.91.

Wall Street Analysts Forecast Growth

ADAM has been the subject of a number of recent research reports. UBS Group boosted their target price on Adamas Trust from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Zacks Research upgraded Adamas Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Adamas Trust in a research report on Tuesday, July 21st. JonesTrading reissued a “buy” rating and set a $10.00 price objective on shares of Adamas Trust in a report on Thursday, September 17th. 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Adamas Trust Stock Down 1.3%

The firm’s 50-day simple moving average is $9.42 and its 200 day simple moving average is $8.80. The company has a market cap of $790.94 million, a P/E ratio of 5.24 and a beta of 1.18. The company has a debt-to-equity ratio of 11.89, a quick ratio of 18.54 and a current ratio of 18.54.

Adamas Trust (NASDAQ:ADAM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%.The business had revenue of $47.92 million for the quarter, compared to analyst estimates of $47.50 million. On average, research analysts forecast that Adamas Trust, Inc. will post 1.2 earnings per share for the current fiscal year.

Adamas Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, September 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This is a positive change from Adamas Trust’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 13.6%. Adamas Trust’s payout ratio is currently 64.29%.

Institutional Trading of Adamas Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in shares of Adamas Trust in the 2nd quarter valued at approximately $172,000. Integrated Wealth Concepts LLC bought a new stake in Adamas Trust in the second quarter valued at approximately $48,000. Nykredit A S bought a new stake in Adamas Trust in the second quarter valued at approximately $36,000. Corient Private Wealth LP acquired a new stake in Adamas Trust in the second quarter worth $107,000. Finally, Amundi acquired a new stake in Adamas Trust in the second quarter worth $128,000. 54.89% of the stock is owned by institutional investors.

Adamas Trust Company Profile