Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 4,800 shares, a decline of 76.0% from the June 30th total of 20,000 shares. Based on an average daily trading volume, of 19,800 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.
Separately, Maxim Group set a $8.00 price target on shares of Manhattan Bridge Capital and gave the stock a “buy” rating in a research note on Wednesday, August 7th.
LOAN opened at $6.04 on Wednesday. The stock has a market capitalization of $58.14 million, a P/E ratio of 12.81 and a beta of 0.26. The company’s 50-day simple moving average is $6.22 and its two-hundred day simple moving average is $6.23. Manhattan Bridge Capital has a 52-week low of $5.34 and a 52-week high of $6.90.
Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Friday, July 26th. The credit services provider reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 60.04% and a return on equity of 13.60%. The business had revenue of $1.78 million for the quarter.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, October 10th will be issued a…