Adamas Trust (NASDAQ:ADAM) Earns Buy Rating from JonesTrading

Key Points

• JonesTrading reiterated its “buy” rating on Adamas Trust and set a $10.00 price target, implying approximately 9.23% upside from the reported $9.15 share price.
• Analyst sentiment is generally positive but mixed: Adamas Trust has an overall “Moderate Buy” consensus rating and an average price target of $9.50, based on one Strong Buy, one Buy, and four Hold ratings.
• The company exceeded quarterly expectations, reporting $0.30 in earnings per share versus a $0.25 estimate and $47.92 million in revenue versus a $47.50 million forecast. Institutional investors own approximately 54.89% of outstanding shares.

Adamas Trust (NASDAQ:ADAM - Get Free Report)'s stock had its "buy" rating restated by JonesTrading in a note issued to investors on Thursday, Benzinga reports. They currently have a $10.00 target price on the stock. JonesTrading's price objective points to a potential upside of 9.23% from the company's current price.

ADAM has been the subject of several other reports. Wall Street Zen cut Adamas Trust from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Zacks Research raised Adamas Trust from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of Adamas Trust in a research note on Tuesday, July 21st. Finally, UBS Group increased their price target on shares of Adamas Trust from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $9.50.

Adamas Trust Price Performance

Shares of NASDAQ:ADAM traded up $0.18 during midday trading on Thursday, hitting $9.15. The company had a trading volume of 205,480 shares, compared to its average volume of 777,848. Adamas Trust has a twelve month low of $6.45 and a twelve month high of $10.36. The stock has a market cap of $822.85 million, a price-to-earnings ratio of 5.44 and a beta of 1.18. The business's 50-day simple moving average is $9.44 and its 200-day simple moving average is $8.79. The company has a debt-to-equity ratio of 11.89, a current ratio of 18.54 and a quick ratio of 18.54.

Adamas Trust (NASDAQ:ADAM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. Adamas Trust had a return on equity of 14.72% and a net margin of 29.82%.The business had revenue of $47.92 million for the quarter, compared to analyst estimates of $47.50 million. On average, research analysts predict that Adamas Trust will post 1.2 earnings per share for the current year.

Institutional Investors Weigh In On Adamas Trust

Several large investors have recently made changes to their positions in ADAM. Public Employees Retirement System of Ohio purchased a new position in shares of Adamas Trust in the second quarter valued at $34,000. Nykredit A S acquired a new stake in Adamas Trust in the second quarter valued at $36,000. Integrated Wealth Concepts LLC acquired a new stake in Adamas Trust in the second quarter valued at $48,000. Hillsdale Investment Management Inc. bought a new position in Adamas Trust during the 1st quarter valued at $60,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Adamas Trust during the 2nd quarter worth $97,000. Institutional investors and hedge funds own 54.89% of the company's stock.

About Adamas Trust

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