Hotel101 Global (NASDAQ:HBNB) Stock Price Up 7% – Here’s Why

Hotel101 Global Holdings Corp. (NASDAQ:HBNB)’s stock price shot up 7% on Thursday . The company traded as high as $8.11 and last traded at $8.11. 9,847 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 21,712 shares. The stock had previously closed at $7.58.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HBNB. Weiss Ratings initiated coverage on shares of Hotel101 Global in a research note on Monday, January 5th. They set a “sell (d)” rating for the company. Wall Street Zen upgraded shares of Hotel101 Global to a “sell” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Hotel101 Global Price Performance

The stock has a 50 day moving average price of $7.95.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Yakira Capital Management Inc. purchased a new stake in Hotel101 Global in the 3rd quarter worth approximately $32,000. Citadel Advisors LLC acquired a new position in shares of Hotel101 Global in the third quarter worth $43,000. Hudson Bay Capital Management LP purchased a new stake in shares of Hotel101 Global during the third quarter worth $62,000. Alterna Wealth Management Inc. purchased a new stake in shares of Hotel101 Global during the fourth quarter worth $154,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Hotel101 Global during the third quarter valued at $88,000.

About Hotel101 Global

Hotel101 Global, Inc, listed on NASDAQ under the symbol HBNB, is a hospitality company specializing in the ownership, development, and operation of midscale hotels and hotel-branded residences. The company’s flagship brand, Hotel101, offers standardized guest rooms, on-site dining, and meeting facilities designed to serve both business and leisure travelers. Since commencing operations in 2021, Hotel101 Global has focused on a growth strategy that combines new property development with franchising agreements to expand its brand footprint.

Through its operating subsidiaries, Hotel101 Global maintains a portfolio of properties primarily in the Philippines, with key locations in Metro Manila, Bacolod, Iloilo, and Clark, Pampanga.