Manhattan Bridge Capital (NASDAQ:LOAN) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.07 and traded as low as $4.47. Manhattan Bridge Capital shares last traded at $4.49, with a volume of 18,816 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Manhattan Bridge Capital in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Manhattan Bridge Capital Price Performance

The firm’s 50 day simple moving average is $4.69 and its 200-day simple moving average is $5.07. The company has a market cap of $51.37 million, a price-to-earnings ratio of 9.76 and a beta of 0.25.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently made changes to their positions in LOAN. Mercer Global Advisors Inc. ADV boosted its holdings in Manhattan Bridge Capital by 28.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after acquiring an additional 81,220 shares during the last quarter. Melia Wealth LLC grew its stake in Manhattan Bridge Capital by 15.3% in the third quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock worth $2,394,000 after purchasing an additional 57,932 shares in the last quarter. Certuity LLC bought a new stake in Manhattan Bridge Capital during the second quarter valued at $306,000. Apella Capital LLC acquired a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth $192,000. Finally, Fortress Financial Solutions LLC lifted its position in shares of Manhattan Bridge Capital by 26.7% in the 3rd quarter. Fortress Financial Solutions LLC now owns 152,430 shares of the credit services provider’s stock worth $837,000 after buying an additional 32,148 shares during the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.