Recent extremely meaningful positive changes in investment behavior have benefitted Unity Bancorp Inc (NASDAQ: UNTY): the stock rose on very heavy volume, and its shorter term price trend turned up.
Unity Bancorp Inc (NASDAQ: UNTY) has recently enjoyed important positive changes in fundamentals: significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, UNTY is expected to continue to be a Value Builder.
Unity Bancorp has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Unity Bancorp has a good Power Rating of 83 and a good Appreciation Score of 84, and the Highest Value Trend Rating results.
Recent Price Action
On 3/27/24, Unity Bancorp Inc (NASDAQ: UNTY) stock increased 1.7%, closing at $27.85. Moreover, trading volume in this advance was exceptionally high at 434% of normal. Relative to the market the stock has been strong over the last nine months and has risen 3.0% during the last week.
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