Optibase Ltd. – Ordinary Shares (NASDAQ:OBAS) Traded Much Higher Than Its 50 Day Average

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Shares of the company are trading at $8.85 which is significantly higher than the 50 day moving average which is $7.24 and slightly over the 200 day moving average of $8.48. The 50 day moving average was up $1.61 and the 200 day average moved up $0.37. Optibase Ltd. – Ordinary Shares shares had a trading volume of 835 in the last trading session. Volume was up 14.23% over the stocks average daily volume.

Investors are more bullish on shares of Optibase Ltd. – Ordinary Shares lately considering the downtick in short interest. The firm experienced a fall in short interest from September 15, 2017 to September 29, 2017 of -8.46%. Short interest decreased 200 over that timeframe. The days to cover decreased to 8.0 and the percentage of shorted shares is 0.00% as of September 29.

Optibase Ltd., launched on August 7, 1990, is a real estate company. The Company, through its subsidiaries, is involved in purchasing and operating of real estate properties for leasing and resale primarily for the purpose of commercial, industrial, office space use, as well as for residential purposes. The Company owns holdings in several commercial real estate properties, which are leased to third parties. The Company owns a portfolio of supermarkets located mainly in Bavaria, Germany. It also owns several real estate properties located in Philadelphia, Texas, Chicago and Miami, in the United States. The Company owns approximately 25 residential properties in Miami and Miami Beach, Florida, including 21 luxury condominium units and two penthouse units in the Marquis Residences, one penthouse unit in Ocean One Condominium and one condominium units in the Continuum on South Beach Condominium. The Business’s subsidiaries include Optibase Inc., Optibase Real Estate Europe SARL and OPCTN S.A..