Berenberg Bank started coverage on shares of Latch (NASDAQ:LTCH) in a research note issued to investors on Tuesday, Price Targets.com reports. The firm issued a buy rating and a $8.00 price objective on the stock.
Several other research firms also recently commented on LTCH. Zacks Investment Research downgraded shares of Latch from a hold rating to a sell rating in a report on Wednesday, January 5th. The Goldman Sachs Group downgraded shares of Latch from a buy rating to a neutral rating and decreased their price objective for the company from $16.00 to $10.00 in a report on Monday, October 18th. Imperial Capital assumed coverage on shares of Latch in a report on Thursday, November 18th. They issued an outperform rating and a $15.00 price objective on the stock. Finally, Bank of America assumed coverage on shares of Latch in a report on Tuesday, October 5th. They issued an underperform rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $12.30.
Shares of LTCH opened at $6.33 on Tuesday. Latch has a 1-year low of $5.76 and a 1-year high of $19.70. The company’s fifty day simple moving average is $7.80 and its 200 day simple moving average is $10.34.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in shares of Latch in the third quarter valued at about $402,000. UBS Group AG grew its stake in shares of Latch by 19,619.5% in the third quarter. UBS Group AG now owns 39,439 shares of the company’s stock valued at $444,000 after acquiring an additional 39,239 shares in the last quarter. Waterfront Capital Partners LLC grew its stake in shares of Latch by 91.5% in the third quarter. Waterfront Capital Partners LLC now owns 816,048 shares of the company’s stock valued at $9,197,000 after acquiring an additional 389,871 shares in the last quarter. Spruce House Investment Management LLC grew its stake in shares of Latch by 33.3% in the third quarter. Spruce House Investment Management LLC now owns 14,000,000 shares of the company’s stock valued at $157,780,000 after acquiring an additional 3,500,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Latch in the third quarter valued at about $1,715,000. Institutional investors and hedge funds own 44.80% of the company’s stock.
Latch Company Profile
Latch, Inc makes spaces better places to live, work, and visit through a system of software, devices, and services in the United States. Its products include LatchOS for Commercial Office, a commercial solution that would extend smart access, visitor and delivery management, smart device and sensor control, connectivity, and identity and personalization solutions to meet the needs of modern office spaces; Latch Visitor Express, a contactless visitor entry system; The Latch Lens Partner Program that enables access device partners to leverage Latch's software and Latch Lens; LatchID, an identification system that creates a network of users, across spaces, and devices; and Latch C2, a smart access solution for retrofits and new construction.
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