Elme Communities (ELME) Shares Up Despite Recent Market Volatility

Elme Communities (NYSE: ELME)’s stock price has soared by 1.49 in relation to previous closing price of 13.38. Nevertheless, the company has seen a gain of 1.27% in its stock price over the last five trading days. GlobeNewsWire reported 2024-03-26 that BETHESDA, Md., March 26, 2024 (GLOBE NEWSWIRE) — Elme Communities (“Elme”) (NYSE:ELME), a value-oriented multifamily owner and operator, will release first quarter earnings results after market close on Wednesday, May 1, 2024. A conference call to discuss these results will be conducted on Thursday, May 2, 2024, at 9:00 am ET. There will also be a live, listen-only webcast presentation. Conference call and webcast access information is as follows:

Is It Worth Investing in Elme Communities (NYSE: ELME) Right Now?

Company’s 36-month beta value is 0.92.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for ELME is 86.48M, and currently, short sellers hold a 1.25% ratio of that floaft. The average trading volume of ELME on April 04, 2024 was 647.03K shares.

ELME’s Market Performance

ELME stock saw an increase of 1.27% in the past week, with a monthly gain of 4.70% and a quarterly increase of -7.11%. The volatility ratio for the week is 1.96%, and the volatility levels for the last 30 days are 2.24% for Elme Communities (ELME). The simple moving average for the past 20 days is 0.96% for ELME’s stock, with a -5.78% simple moving average for the past 200 days.

Analysts’ Opinion of ELME

Many brokerage firms have already submitted their reports for ELME stocks, with JP Morgan repeating the rating for ELME by listing it as a “Overweight.” The predicted price for ELME in the upcoming period, according to JP Morgan is $18 based on the research report published on December 18, 2023 of the previous year 2023.

ELME Trading at -1.62% from the 50-Day Moving Average

After a stumble in the market that brought ELME to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -24.32% of loss for the given period.

Volatility was left at 2.24%, however, over the last 30 days, the volatility rate increased by 1.96%, as shares surge +6.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.06% lower at present.

During the last 5 trading sessions, ELME rose by +1.27%, which changed the moving average for the period of 200-days by -13.67% in comparison to the 20-day moving average, which settled at $13.49. In addition, Elme Communities saw -6.99% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for ELME

Current profitability levels for the company are sitting at:

  • -0.1 for the present operating margin
  • 0.51 for the gross margin

The net margin for Elme Communities stands at -0.23. The total capital return value is set at -0.01. Equity return is now at value -4.38, with -2.81 for asset returns.

Based on Elme Communities (ELME), the company’s capital structure generated 0.42 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 0.72. The interest coverage ratio of the stock is -0.77.

Currently, EBITDA for the company is 107.75 million with net debt to EBITDA at 6.14. When we switch over and look at the enterprise to sales, we see a ratio of 8.18. The receivables turnover for the company is 12.92for trailing twelve months and the total asset turnover is 0.12.

Conclusion

In a nutshell, Elme Communities (ELME) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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