Securitize (NYSE:SECZ) Shares Down 7.9% Following Analyst Downgrade

Securitize Holdings (NYSE:SECZ)’s stock price traded down 7.9% during mid-day trading on Wednesday after Citigroup downgraded the stock from a buy rating to a neutral rating. Citigroup now has a $14.00 price target on the stock, up from their previous price target of $10.00. Securitize traded as low as $10.31 and last traded at $10.31. Approximately 1,323,347 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 2,925,173 shares. The stock had previously closed at $11.19.

A number of other research firms have also recently commented on SECZ. Zacks Research raised shares of Securitize to a “hold” rating in a research report on Tuesday, September 22nd. Rosenblatt Securities upped their target price on shares of Securitize from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Benchmark lowered their price target on shares of Securitize from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 17th. Needham & Company LLC initiated coverage on shares of Securitize in a research note on Tuesday, September 8th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Securitize to a “strong sell” rating in a research note on Saturday, September 5th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Securitize has a consensus rating of “Moderate Buy” and a consensus price target of $14.37.

Securitize Stock Performance

The stock’s 50 day moving average is $9.38. The firm has a market cap of $1.70 billion, a PE ratio of -4.20 and a beta of -0.13.

Securitize (NYSE:SECZ) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($2.37) earnings per share (EPS) for the quarter. The business had revenue of $14.44 million during the quarter. Sell-side analysts predict that Securitize Holdings will post -0.81 EPS for the current fiscal year.

About Securitize

Securitize is a financial technology company that provides infrastructure for issuing, managing and trading digital securities. Its platform uses blockchain technology to represent ownership interests in assets such as private-company shares, private credit, real estate and investment funds as digital tokens.

The company offers services for issuers, investors and financial institutions, including digital securities issuance, investor onboarding, compliance administration, transfer-agent services and secondary-market trading.