UNITE Group (OTCMKTS:UTGPF) Shares Cross Above 50 Day Moving Average – Here’s What Happened

UNITE Group PLC (OTCMKTS:UTGPF) shares passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $6.21 and traded as high as $6.2775. UNITE Group shares last traded at $6.2775, with a volume of 2,687 shares.

Analysts Set New Price Targets

Several research firms have issued reports on UTGPF. Oddo Bhf downgraded UNITE Group to a “neutral” rating in a research report on Tuesday, August 4th. Citigroup lowered UNITE Group from an “overweight” rating to a “hold” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of UNITE Group in a research note on Thursday, July 9th. Finally, Barclays downgraded UNITE Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

UNITE Group Trading Up 12.1%

The company has a fifty day moving average price of $6.21 and a 200 day moving average price of $6.55.

About UNITE Group

UNITE Group plc is a United Kingdom-based owner, developer and manager of purpose-built student accommodation. Through its Unite Students platform, the company provides furnished housing, shared facilities and support services for university students.

The company’s activities include acquiring and developing student residences, operating accommodation under management agreements with universities, and leasing rooms directly to students. Its properties are located in major university cities and towns across the United Kingdom.

Founded in 1991, UNITE Group expanded its national student-housing portfolio through organic development and acquisitions, including the purchase of Liberty Living in 2019.