Drive Shack Inc. [NYSE: DS] stock went on a downward path that fall over -9.47% on Thursday, amounting to a one-week price decrease of less than -5.32%. The company report on December 13, 2022 that Drive Shack Inc. Announces Intention to Voluntarily Delist and Deregister its Securities.
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Drive Shack Inc. (together with its subsidiaries, “Drive Shack”, “we”, “us” or the “Company”) (NYSE: DS), a leading owner and operator of golf-related leisure and entertainment businesses, announced today its intention to voluntarily delist from the New York Stock Exchange (“NYSE”) and to deregister its common stock under Section 12(b) and Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and suspend its reporting obligations under Section 15(d) of the Exchange Act.
The Company received a notice that its securities are not in compliance with the continued listing standards of the NYSE, and in response has evaluated its options to remain listed or to go dark and has determined that going dark is the best path for the Company due to expected cost savings and the Company’s current inability to realize the traditional benefits of public company status. The low trading value, and the resulting low trading volume, limits our securities’ liquidity and affects our ability to raise capital from the public markets, effectively use our securities as transaction consideration, attract interest from institutional investors or market analysts or otherwise realize the traditional benefits of being a publicly traded company. Despite the lack of these benefits, we incur all of the significant annual expenses and indirect costs associated with being a public company.
Over the last 12 months, DS stock dropped by -85.73%. The average equity rating for DS stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $20.11 million, with 92.39 million shares outstanding and 77.21 million shares in the current float. Compared to the average trading volume of 1.23M shares, DS stock reached a trading volume of 4038020 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Drive Shack Inc. [DS]:
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 0.05, with the Price to Sales ratio for DS stock in the period of the last 12 months amounting to 0.06.
DS Stock Performance Analysis:
Drive Shack Inc. [DS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.32. With this latest performance, DS shares dropped by -52.89% in over the last four-week period, additionally sinking by -84.80% over the last 6 months – not to mention a drop of -85.73% 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 30.64, with the RSI for the last a single of trading hit 28.37, and the three-weeks RSI is set at 32.52 for Drive Shack Inc. [DS]. The present Moving Average for the last 50 days of trading for this stock 0.4377, while it was recorded at 0.2161 for the last single week of trading, and 1.0494 for the last 200 days.
Insight into Drive Shack Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Drive Shack Inc. [DS] shares currently have an operating margin of -3.92 and a Gross Margin at +8.08. Drive Shack Inc.’s Net Margin is presently recorded at -11.13.
Return on Equity for this stock declined to -163.23, with Return on Assets sitting at -6.68.
Drive Shack Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.
DS Stock EPS
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%.
Drive Shack Inc. [DS] Insider Position Details
There are presently around $6 million, or 30.50% 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 $0.8 million in DS stocks shares; and BLACKROCK INC., currently with $0.35 million in DS stock with ownership of nearly -0.661% of the company’s market capitalization.
Positions in Drive Shack Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 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.