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

UNITE Group PLC (OTCMKTS:UTGPF)’s stock price gapped up prior to trading 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.

Wall Street Analyst Weigh In

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

UNITE Group Trading Up 5.9%

The business’s fifty day simple moving average is $6.21 and its two-hundred day simple 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.