Securitize (NYSE:SECZ) Stock Falls 8.3% – Here’s Why

Securitize Holdings (NYSE:SECZ)’s stock price dropped 8.3% on Thursday. The stock traded as low as $8.34 and last traded at $8.4130. 516,723 shares traded hands during trading, a decline of 82% from the average daily volume of 2,903,275 shares. The stock had previously closed at $9.17.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SECZ shares. Citizens Jmp upped their target price on Securitize from $15.00 to $17.00 and gave the company a “market outperform” rating in a report on Friday, October 9th. Benchmark decreased 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. Zacks Research raised shares of Securitize to a “hold” rating in a research report on Tuesday, September 22nd. Citigroup lowered shares of Securitize from a “buy” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $14.00 in a research note on Tuesday, October 13th. Finally, Wall Street Zen downgraded shares of Securitize to a “strong sell” rating in a research report on Saturday, September 5th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Securitize currently has an average rating of “Moderate Buy” and an average price target of $14.37.

Securitize Stock Performance

The stock has a market capitalization of $1.27 billion, a PE ratio of -3.13 and a beta of -0.13. The stock’s 50-day simple moving average is $9.76.

Securitize (NYSE:SECZ) last issued its earnings results on Wednesday, August 12th. The company reported ($2.37) earnings per share for the quarter. The business had revenue of $14.44 million during the quarter. As a group, equities analysts expect that Securitize Holdings will post -0.81 EPS for the current year.

Securitize Company Profile

Securitize is a financial technology company focused on the issuance, management and trading of tokenized securities and other real-world assets. Its platform uses blockchain technology to create digital representations of assets such as private company shares, investment funds, credit products and real estate interests.

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