Financial stocks listed on the New York Stock Exchange or NASDAQ have gotten some tailwinds from Optibase Ltd. (OBAS), as one of the best performers in the sector during morning trading on September 22. At the lunch break, shares of OBAS have advanced 4.9% to $7.5 after closing the day prior at $7.15. In morning action, the stock has moved as high as $7.9 and as low as $7.28. Today’s rise has come with about 14,201 shares changing hands, compared to an average 30-day volume of 1,306 for Optibase Ltd.. The price is currently below the 30-day volume weighted average price of $7.79 for OBAS.
The share appreciation gives the company a market capitalization of $36.98 million based upon 5.17 million shares outstanding. It also means that OBAS has a price-to-book ratio of 0.64:1.
In the past 52 weeks, shares of OBAS have traded as low as $5.75 and as high as $8.4501. Technical traders will take note that at $7.5, shares of OBAS are trading above their 200-day MA at $7.33 and below their 50-day MA at $7.76. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is OBAS?
Optibase Ltd purchases and operates real estate properties. It currently holds properties in Switzerland and Miami Florida. The company’s 10 employees are led by CEO Amir Philips from the corporate headquarters at 15 Abba Even Street in Herzliya, .
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