Craig Hallum lifts Drive Shack Inc. [DS] price estimate. Who else is bullish?

Drive Shack Inc. [NYSE: DS] gained 5.12% or 0.02 points to close at $0.45 with a heavy trading volume of 352388 shares. The company report on November 21, 2022 that Drive Shack Inc. Announces Third Quarter 2022 Financial Results and Preferred Stock Dividends for Fourth Quarter 2022.

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Third Quarter 2022 Total Company Revenue of $89 Million, Up 16% Compared to Third Quarter 2021; Led by Increased Event Sales and New Puttery Venues.

American Golf Event Revenue up 51% and Drive Shack Event Revenue Up 22% Compared to Third Quarter 2021.

The daily chart for DS points out that the company has recorded -65.91% loss over the past six months.

If we look at the average trading volume of 730.33K shares, DS reached to a volume of 352388 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Drive Shack Inc. [DS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DS shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DS stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for Drive Shack Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 26, 2021. While these analysts kept the previous recommendation, B. Riley FBR raised their target price to Buy. The new note on the price target was released on June 01, 2020, representing the official price target for Drive Shack Inc. stock. Previously, the target price had yet another raise to $3, while BTIG Research analysts kept a Buy rating on DS stock.

The Average True Range (ATR) for Drive Shack Inc. is set at 0.06, with the Price to Sales ratio for DS stock in the period of the last 12 months amounting to 0.14.

Trading performance analysis for DS stock

Drive Shack Inc. [DS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.38. With this latest performance, DS shares dropped by -16.67% in over the last four-week period, additionally sinking by -65.91% over the last 6 months – not to mention a drop of -77.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DS stock in for the last two-week period is set at 42.49, with the RSI for the last a single of trading hit 45.76, and the three-weeks RSI is set at 40.42 for Drive Shack Inc. [DS]. The present Moving Average for the last 50 days of trading for this stock 0.5922, while it was recorded at 0.4090 for the last single week of trading, and 1.1611 for the last 200 days.

Drive Shack Inc. [DS]: A deeper dive into fundamental analysis

Drive Shack Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Drive Shack Inc. [DS]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Drive Shack Inc. go to 30.00%.

An analysis of insider ownership at Drive Shack Inc. [DS]

There are presently around $12 million, or 29.70% of DS stock, in the hands of institutional investors. The top three institutional holders of DS stocks are: AMERICAN ASSETS CAPITAL ADVISERS, LLC with ownership of 9,158,843, which is approximately 0% of the company’s market cap and around 16.43% of the total institutional ownership; VANGUARD GROUP INC, holding 3,860,645 shares of the stock with an approximate value of $1.74 million in DS stocks shares; and BLACKROCK INC., currently with $0.76 million in DS stock with ownership of nearly -0.661% of the company’s market capitalization.

31 institutional holders increased their position in Drive Shack Inc. [NYSE:DS] by around 1,943,885 shares. Additionally, 50 investors decreased positions by around 9,132,252 shares, while 25 investors held positions by with 15,556,596 shares. The mentioned changes placed institutional holdings at 26,632,733 shares, according to the latest SEC report filing. DS stock had 10 new institutional investments in for a total of 643,007 shares, while 21 institutional investors sold positions of 3,378,820 shares during the same period.


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