Rithm Capital Corporation (RITM) Shares Up Despite Recent Market Volatility

Rithm Capital Corporation (NYSE: RITM) has experienced a rise in its stock price by 10.40 compared to its previous closing price of 11.94. However, the company has seen a fall of -1.52% in its stock price over the last five trading days. Seeking Alpha reported 2024-02-12 that Rithm Capital Corp. investors experienced steep downside volatility last week as the leading mREIT reported its fourth quarter earnings. Rithm has ambitions to be a leading alternative asset manager to command a much higher valuation multiple. However, Rithm’s mREIT-focused business model and performance suggest it remains a long-term pivot. The market will likely remain cautious in the near term.

Is It Worth Investing in Rithm Capital Corporation (NYSE: RITM) Right Now?

Rithm Capital Corporation (NYSE: RITM) has a higher price-to-earnings ratio of 9.44x compared to its average ratio, and the 36-month beta value for RITM is at 1.79.

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The public float for RITM is 480.63M, and currently, shorts hold a 1.16% of that float. The average trading volume for RITM on February 13, 2024 was 1.13 shares.

RITM’s Market Performance

RITM stock saw a decrease of -1.52% in the past week, with a monthly decline of -1.70% and a quarterly a decrease of 7.33%. The volatility ratio for the week is 2.96%, and the volatility levels for the last 30 days are 1.89% for Rithm Capital Corporation (RITM).. The simple moving average for the past 20 days is 34.88% for RITM’s stock, with a Feb 07 BMO simple moving average for the past 200 days.

Analysts’ Opinion of RITM

Many brokerage firms have already submitted their reports for RITM stocks, with UBS repeating the rating for RITM by listing it as a “Buy.” The predicted price for RITM in the upcoming period, according to UBS is $12.50 based on the research report published on December 06, 2023 of the previous year 2023.

RITM Trading at 154.41% from the 50-Day Moving Average

After a stumble in the market that brought RITM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.73% of loss for the given period.

Volatility was left at 1.89%, however, over the last 30 days, the volatility rate increased by 2.96%, as shares sank -2.44% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.97% upper at present.

During the last 5 trading sessions, RITM fell by -1.52%, which changed the moving average for the period of 200-days by +32.15% in comparison to the 20-day moving average, which settled at $10.67. In addition, Rithm Capital Corporation saw -2.62% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at RITM starting from Rithm Capital Corp., who purchase 29,664,827 shares at the price of $12.70 back on Nov 17. After this action, Rithm Capital Corp. now owns 1,000 shares of Rithm Capital Corporation, valued at $376,743,303 using the latest closing price.

Stock Fundamentals for RITM

Equity return is now at value 8.92, with 1.83 for asset returns.

Conclusion

In conclusion, Rithm Capital Corporation (RITM) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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