Hemnet Group (OTCMKTS:HMNTY) Stock Price Up 13% – Still a Buy?

Hemnet Group AB – Unsponsored ADR (OTCMKTS:HMNTY) shares traded up 13% on Friday. The company traded as high as $7.80 and last traded at $7.80. Approximately 400 shares traded hands during trading, a decline of 76% from the average session volume of 1,644 shares. The stock had previously closed at $6.9025.

Wall Street Analyst Weigh In

Separately, Nordea Equity Research upgraded Hemnet Group to a “buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Hemnet Group Stock Up 7.7%

The company has a 50 day moving average of $8.11 and a 200 day moving average of $9.48.

Hemnet Group Company Profile

Hemnet Group AB operates Hemnet, Sweden’s leading online property marketplace. Through its platform, individuals can search for homes and other properties for sale, while real estate agents and property sellers can publish listings and market residential properties to prospective buyers.

The company’s services include property listings, search and comparison tools, saved searches, alerts and digital features designed to support the home-buying and selling process. Hemnet also offers advertising and visibility products for agents, developers and other property-related businesses.

Hemnet was established in Sweden in 1998 and primarily serves the Swedish residential real estate market through its Hemnet.se platform.