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

Securitize Holdings (NYSE:SECZ)’s share price gapped down before the market opened 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 traded.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Rosenblatt Securities reduced their price target on shares of Securitize from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings initiated coverage on shares of Securitize in a research note on Friday, September 25th. They issued a “sell (d-)” rating on the stock. Needham & Company LLC boosted their price objective on shares of Securitize from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday. Benchmark cut their target price on Securitize from $16.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Finally, Cantor Fitzgerald started coverage on Securitize in a research note on Monday, September 21st. They set an “overweight” rating and a $21.20 target price for the company. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.53.

Securitize Price Performance

The business has a 50-day moving average of $10.14. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -2.99 and a beta of 0.61.

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

Institutional Inflows and Outflows

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