Elevate Credit (ELVT) Rating Lowered to Neutral at BTIG Research
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Elevate Credit from a sell rating to a hold rating in a report on Thursday, November 30th. JMP Securities assumed coverage on Elevate Credit in a report on Tuesday, December 12th. They issued an outperform rating and a $10.00 price target for the company. Maxim Group reissued a buy rating and issued a $10.00 price target on shares of Elevate Credit in a report on Tuesday, October 31st. Finally, Credit Suisse Group lowered their price target on Elevate Credit from $11.00 to $10.50 and set an outperform rating for the company in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $10.31.
Shares of Elevate Credit (NYSE ELVT) traded down $1.22 during mid-day trading on Friday, reaching $6.74. The company had a trading volume of 900,627 shares, compared to its average volume of 151,137. Elevate Credit has a 12 month low of $5.90 and a 12 month high of $9.48. The company has a market capitalization of $333.20 and a P/E ratio of -48.14.
Several institutional investors have recently added to or reduced their stakes in ELVT. Rhumbline Advisers acquired a new stake in shares of Elevate Credit during the second quarter worth about $117,000. New York State Common Retirement Fund acquired a new stake in shares of Elevate Credit during the second quarter worth about $122,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Elevate Credit during the third quarter worth about $126,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Elevate Credit during the second quarter worth about $146,000. Finally, Phoenix Investment Adviser LLC acquired a new stake in shares of Elevate Credit during the third quarter worth about $147,000. 52.70% of the stock is owned by hedge funds and other institutional investors.
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Elevate Credit Company Profile
Elevate Credit, Inc provides online credit solutions to non-prime consumers, typically defined as those with credit scores of less than 700. The Company uses advanced technology risk analytics to provide financial options to its customers, who are not well-served by either banks or legacy non-prime lenders.
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