Securitize (NYSE:SECZ) Stock Price Down 8.9% – Here’s Why

Securitize Holdings (NYSE:SECZ)’s stock price traded down 8.9% on Friday. The company traded as low as $15.15 and last traded at $15.0580. 1,149,254 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 2,557,503 shares. The stock had previously closed at $16.53.

Analyst Upgrades and Downgrades

SECZ has been the subject of several recent research reports. Citizens Jmp initiated coverage on shares of Securitize in a report on Tuesday, August 11th. They issued an “outperform” rating and a $15.00 price target for the company. Zacks Research raised shares of Securitize to a “hold” rating in a report on Tuesday. Wall Street Zen lowered Securitize to a “strong sell” rating in a report on Saturday, September 5th. Cantor Fitzgerald assumed coverage on Securitize in a research report on Monday. They set an “overweight” rating and a $21.20 target price on the stock. Finally, Citigroup began coverage on Securitize in a research report on Tuesday, August 11th. They issued an “outperform” rating for the company. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.37.

Securitize Stock Down 7.0%

The company has a market cap of $2.51 billion, a price-to-earnings ratio of -6.19 and a beta of 1.45. The company has a 50 day simple moving average of $7.73.

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

Securitize Company Profile

Securitize is a financial technology company that provides infrastructure for issuing, managing and trading digital securities on blockchain networks. Its platform enables companies and investment managers to tokenize assets such as private-company shares, private funds, credit products and other real-world assets, while supporting compliance and investor onboarding.

The company offers services including digital securities issuance, transfer-agent and fund-administration capabilities, a marketplace for certain tokenized assets, and investment products through its Securitize Capital business.