The stock of Manhattan Bridge Capital Inc. (NASDAQ:LOAN) hit a new 52-week high and has $20.29 target or 183.00% above today’s $7.17 share price. The 7 months bullish chart indicates low risk for the $59.45M company. The 1-year high was reported on Oct, 13 by Barchart.com. If the $20.29 price target is reached, the company will be worth $108.79 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. Manhattan Bridge Capital Inc. (NASDAQ:LOAN) has risen 79.33% since March 10, 2016 and is uptrending. It has outperformed by 71.81% the S&P500.
Analysts await Manhattan Bridge Capital Inc. (NASDAQ:LOAN) to report earnings on November, 3.
According to Zacks Investment Research, “MANHATTAN BRIDGE CAPITAL INC., formerly DAG Media, Inc., through its subsidiaries, provides short term, secured, non-banking, commercial loans to small businesses against good collateral, such as real estate, receivables, trading shares, etc., in addition to personal guarantees of the principles in most cases. In addition it develops innovative software and a related web site that allows retail businesses and other service providers to reach prospective customers and clients for their goods and services in a more effective way than traditional on-line and print yellow pages search.”
More notable recent Manhattan Bridge Capital Inc. (NASDAQ:LOAN) news were published by: Globenewswire.com which released: “Manhattan Bridge Capital, Inc. Announces Closing of Over-Allotment Option Shares” on August 31, 2016, also Nasdaq.com with their article: “Manhattan Bridge Capital, Inc (LOAN) Ex-Dividend Date Scheduled for October 06 …” published on October 05, 2016, Marketwatch.com published: “Manhattan Bridge Capital Inc.” on December 21, 2009. More interesting news about Manhattan Bridge Capital Inc. (NASDAQ:LOAN) were released by: Globenewswire.com and their article: “Manhattan Bridge Capital, Inc. Announces Closing of Public Offering of Common …” published on August 15, 2016 as well as Globenewswire.com‘s news article titled: “Manhattan Bridge Capital, Inc. Prices Public Offering of 672269 Common Shares” with publication date: August 09, 2016.
LOAN Company Profile
Manhattan Bridge Capital, Inc. (MBC), incorporated on February 22, 1999, is a real estate finance firm that specializes in originating, servicing and managing a portfolio of first mortgage loans. The Firm offers short-term, secured, non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area. The Company’s primary business objective is to grow its loan portfolio while protecting and preserving capital in a manner that provides for risk-adjusted returns to its shareholders over the long term through dividends. The Firm intends to achieve this objective by continuing to selectively originate, fund loans secured by first mortgages on residential real estate held for investment located in the New York metropolitan area, and to manage and service its portfolio in a manner designed to generate risk-adjusted returns across a range of market conditions and economic cycles.
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