Short Interest in Sotherly Hotels Inc. (NASDAQ:SOHO) Increases By 88.7%

Sotherly Hotels Inc. (NASDAQ:SOHO) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 85,500 shares, a growth of 88.7% from the October 15th total of 45,300 shares. Based on an average daily volume of 80,400 shares, the short-interest ratio is presently 1.1 days. Currently, 0.6% of the shares of the stock are short sold.

Sotherly Hotels Trading Down 6.4 %

Shares of SOHO traded down $0.07 during midday trading on Wednesday, reaching $1.09. The stock had a trading volume of 81,185 shares, compared to its average volume of 50,938. The company’s fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $1.26. Sotherly Hotels has a 1-year low of $1.05 and a 1-year high of $1.67. The company has a debt-to-equity ratio of 6.88, a current ratio of 1.81 and a quick ratio of 1.81.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com initiated coverage on shares of Sotherly Hotels in a research report on Tuesday. They set a “hold” rating on the stock. Piper Sandler dropped their price target on shares of Sotherly Hotels from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd.

About Sotherly Hotels

Sotherly Hotels Inc is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States. Sotherly may also opportunistically acquire hotels throughout the United States.