Hemnet Group (OTCMKTS:HMNTY) Shares Climb 13% – Here’s Why

Hemnet Group AB – Unsponsored ADR (OTCMKTS:HMNTY)’s share price was up 13% during trading on Friday. The company traded as high as $7.80 and last traded at $7.80. 400 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,644 shares. The stock had previously closed at $6.9025.

Analysts Set New Price Targets

Separately, Nordea Equity Research raised shares of Hemnet Group to a “buy” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Hemnet Group currently has a consensus rating of “Reduce”.

Hemnet Group Price Performance

The company has a 50 day moving average price of $8.11 and a 200 day moving average price of $9.48.

Hemnet Group Company Profile

Hemnet Group AB operates Hemnet, Sweden’s leading online property marketplace. Through its platform, individuals can search for homes and other properties for sale, while real estate agents and property sellers can publish listings and market residential properties to prospective buyers.

The company’s services include property listings, search and comparison tools, saved searches, alerts and digital features designed to support the home-buying and selling process. Hemnet also offers advertising and visibility products for agents, developers and other property-related businesses.

Hemnet was established in Sweden in 1998 and primarily serves the Swedish residential real estate market through its Hemnet.se platform.