Sunday, June 26, 2022

An Analysis of Drive Shack Inc. (DS)’s Potential Price Growth

Drive Shack Inc.’s recently made public that its President KHOURI HANA acquired Company’s shares for reported $25033.0 on May 16. In the deal valued at $1.73 per share,14,500 shares were bought. As a result of this transaction, KHOURI HANA now holds 26,745 shares worth roughly $ 38245.35.


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Then, EDENS WESLEY R bought 302,275 shares, generating $504,799 in total proceeds. Upon buying the shares at $1.67, the Director now owns 5,847,728 shares.

Before that, EDENS WESLEY R bought 302,274 shares. Drive Shack Inc. shares valued at $504,798 were divested by the Director at a price of $1.67 per share. As a result of the transaction, EDENS WESLEY R now holds 5,502,368 shares, worth roughly $7.87 million.

Taking this into account, Craig Hallum initiated its Drive Shack Inc. [DS] rating to a Buy in a research note published on Tuesday, March 26, 2021; the price target was $5. PT values the company’s stock at a premium of 71.4 to its Tuesday closing price. A number of analysts have revised their coverage, including B. Riley FBR’s analysts, who began to cover the stock in early June with a ‘”a Buy”‘ rating. BTIG Research began covering DS with a “Buy” recommendation on April 21, 2020. JMP Securities started covering the stock on October 15, 2019. It rated DS as “a Mkt outperform”.

Price Performance Review of DS

On Tuesday, Drive Shack Inc. [NYSE:DS] saw its stock jump 2.14% to $1.43. On the same session, the stock had its day’s lowest price of $1.37, but rose to a high of $1.52. Over the last five days, the stock has gained 1.42%. Drive Shack Inc. shares have fallen nearly 0.00% since the year began. Nevertheless, the stocks have fallen -56.40% over the past one year. While a 52-week high of $3.58 was reached on 06/09/22, a 52-week low of $1.01 was recorded on 05/10/22. SMA at 50 days reached $1.4126, while 200 days put it at $1.7794. A total of 1.25 million shares were traded, compared to the trading of 0.93 million shares in the previous session.

Levels Of Support And Resistance For DS Stock

The 24-hour chart illustrates a support level at 1.3600, which if violated will result in even more drops to 1.2900. On the upside, there is a resistance level at 1.5100. A further resistance level may holdings at 1.5900. The Relative Strength Index (RSI) on the 14-day chart is 46.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.1976, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.82%. Stochastics %K at 15.15% indicates the stock is a buying.

How much short interest is there in Drive Shack Inc.?

A steep rise in short interest was recorded in Drive Shack Inc. stocks on May 30, 2022, growing by 0.2 million shares to a total of 7.45 million shares. Yahoo Finance data shows the prior-month short interest on Apr 28, 2022 was 7.25 million shares. There was a rise of 2.68%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.14% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.37.

Drive Shack Inc. [DS] – Who Are The Largest Shareholders?

In filings from American Assets Capital Advisers, it is revealed that the company now owns 6,722,488 shares, or roughly 7.28% of the outstanding DS shares. In other words, the investor’s shares have risen by 3,144,487 from its previous 13-F filing of 3578001.0. Additionally, BlackRock Fund Advisors decreased -1.70% of its stake after which the total value it holdings stand at $8,276,605, while The Vanguard Group, Inc. added 7.02% of its stake to hold $6.8 million in the firm. Over the last quarter, Lansing Management LP purchased 517,462 shares of Drive Shack Inc., while Geode Capital Management LLC bought 152,522 shares. At present, Broad Run Investment Management L is holding 1,405,094 shares valued at $2.25 million. SSgA Funds Management, Inc. owned 1,327,991 shares of the company at the time of its most recent 13F filing, worth $2.12 million.

According to FactSet, Drive Shack Inc.’s share price will average $5.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 257.14 percent from its previous closing price of $1.40. Analysts expect Drive Shack Inc. stock to reach the higher price of $5.00, while the lowest price estimate is $5.00. However, 3 analysts have rated DS stock as a Buy in their predictions for 2022.

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