Is Unity Bancorp, Inc. (UNTY) a Buy? The Stock Formed Double Top Pattern

July 18, 2017 - By reb123z

Investors sentiment increased to 1.64 in Q4 2016. Its up 0.39, from 1.25 in 2016Q3. It increased, as 5 investors sold Unity Bancorp, Inc. shares while 6 reduced holdings. 7 funds opened positions while 11 raised stakes. 4.50 million shares or 36.04% less from 7.04 million shares in 2016Q3 were reported.
20,236 are held by Northern Trust. Ejf Capital Ltd accumulated 442,600 shares. Walleye Trading Ltd invested in 220 shares. California-based Blackrock Fund Advsr has invested 0% in Unity Bancorp, Inc. (NASDAQ:UNTY). Segantii Capital Mgmt Limited owns 1,600 shares. Dimensional Fund Lp has 262,571 shares for 0% of their portfolio. The New Jersey-based Blackrock Investment Mngmt Limited Liability Co has invested 0% in Unity Bancorp, Inc. (NASDAQ:UNTY). Royal State Bank Of Canada has 0% invested in Unity Bancorp, Inc. (NASDAQ:UNTY). Lsv Asset Mgmt has 20,930 shares for 0% of their portfolio. Moreover, Wellington Group Limited Liability Partnership has 0% invested in Unity Bancorp, Inc. (NASDAQ:UNTY) for 612,916 shares. Bridgeway Capital Inc holds 0.01% in Unity Bancorp, Inc. (NASDAQ:UNTY) or 52,500 shares. Emerald Mutual Fund Advisers Trust reported 168,750 shares. Blackrock Institutional Company Na reported 2,266 shares or 0% of all its holdings. Acadian Asset Management Limited has 190 shares for 0% of their portfolio. The New York-based Alliancebernstein Limited Partnership has invested 0% in Unity Bancorp, Inc. (NASDAQ:UNTY).

The chart of Unity Bancorp, Inc. (UNTY) shows a double top with $19.44 target or 8.00 % above today’s $18.00 share price. The 6 months chart pattern indicates low risk for the $187.04M company. It was reported on Jul, 18 by Finviz.com. If the $19.44 price target is reached, the company will be worth $14.96M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.28% or $0.05 during the last trading session, reaching $18. About shares traded. Unity Bancorp, Inc. (NASDAQ:UNTY) has risen 54.08% since July 18, 2016 and is uptrending. It has outperformed by 37.38% the S&P500.

More news for Unity Bancorp, Inc. (NASDAQ:UNTY) were recently published by: Globenewswire.com, which released: “Unity Bancorp Announces Completion of $15.0 Million Common Stock Offering” on December 08, 2016. Nasdaq.com‘s article titled: “Unity Bancorp, Inc. (UNTY) Ex-Dividend Date Scheduled for March 15, 2017” and published on March 14, 2017 is yet another important article.

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