Sachem Capital Corp. (NYSEAMERICAN:SACH) Short Interest Down 12.9% in June

Sachem Capital Corp. (NYSEAMERICAN:SACH) saw a large drop in short interest in June. As of June 15th, there was short interest totalling 1,010,000 shares, a drop of 12.9% from the May 31st total of 1,160,000 shares. Based on an average daily volume of 365,100 shares, the short-interest ratio is presently 2.8 days.

Hedge Funds Weigh In On Sachem Capital

Several institutional investors have recently added to or reduced their stakes in SACH. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Sachem Capital in the 3rd quarter worth $41,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Sachem Capital in the fourth quarter valued at about $53,000. SG Americas Securities LLC purchased a new stake in Sachem Capital in the 1st quarter valued at approximately $55,000. Quadrature Capital Ltd acquired a new position in Sachem Capital during the 4th quarter worth approximately $78,000. Finally, Hartline Investment Corp purchased a new position in shares of Sachem Capital during the 1st quarter worth approximately $85,000. Institutional investors and hedge funds own 18.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SACH shares. Alliance Global Partners began coverage on shares of Sachem Capital in a research report on Monday, March 18th. They set a “buy” rating and a $4.50 price objective for the company. Oppenheimer cut their price target on Sachem Capital from $5.00 to $4.50 and set an “outperform” rating on the stock in a research report on Monday, May 20th.

Sachem Capital Stock Performance

Sachem Capital stock traded down $0.03 during midday trading on Monday, hitting $2.56. 165,678 shares of the company’s stock were exchanged, compared to its average volume of 338,401. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market cap of $121.47 million, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.14 and a beta of 1.73. Sachem Capital has a 12-month low of $2.53 and a 12-month high of $4.64. The business has a 50 day moving average price of $3.68.

About Sachem Capital

Sachem Capital Corp. operates as a real estate finance company in the United States. The company engages in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property. It offers short term loans to real estate investors or developers to fund its acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties.