The stock has a 36-month beta value of 1.87. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 1 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for GPMT is 49.50M, and at present, short sellers hold a 1.03% of that float. On May 08, 2024, the average trading volume of GPMT was 413.43K shares.
GPMT) stock’s latest price update
Granite Point Mortgage Trust Inc (NYSE: GPMT)’s stock price has dropped by -10.28 in relation to previous closing price of 4.38. Nevertheless, the company has seen a loss of -9.03% in its stock price over the last five trading days. InvestorPlace reported 2024-05-06 that This year, the stock market adage “sell in May and go away” may hold very true, especially when it comes to the real estate investment trusts (REITs) best categorized as REITs to sell. These are the REITs that are facing the greatest challenges from the two major factors affecting the sector.
GPMT’s Market Performance
Granite Point Mortgage Trust Inc (GPMT) has seen a -9.03% fall in stock performance for the week, with a -12.86% decline in the past month and a -24.13% plunge in the past quarter. The volatility ratio for the week is 2.39%, and the volatility levels for the past 30 days are at 2.59% for GPMT. The simple moving average for the past 20 days is -9.85% for GPMT’s stock, with a -22.54% simple moving average for the past 200 days.
Analysts’ Opinion of GPMT
UBS, on the other hand, stated in their research note that they expect to see GPMT reach a price target of $6.50. The rating they have provided for GPMT stocks is “Buy” according to the report published on December 06th, 2023.
Keefe Bruyette gave a rating of “Underperform” to GPMT, setting the target price at $6 in the report published on December 15th of the previous year.
GPMT Trading at -13.95% from the 50-Day Moving Average
After a stumble in the market that brought GPMT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -38.64% of loss for the given period.
Volatility was left at 2.59%, however, over the last 30 days, the volatility rate increased by 2.39%, as shares sank -6.81% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -14.81% lower at present.
During the last 5 trading sessions, GPMT fell by -8.10%, which changed the moving average for the period of 200-days by -30.23% in comparison to the 20-day moving average, which settled at $4.34. In addition, Granite Point Mortgage Trust Inc saw -33.84% 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 GPMT starting from TAYLOR JOHN A, who purchase 5,500 shares at the price of $5.06 back on Nov 16 ’23. After this action, TAYLOR JOHN A now owns 275,013 shares of Granite Point Mortgage Trust Inc, valued at $27,830 using the latest closing price.
TAYLOR JOHN A, the President and CEO of Granite Point Mortgage Trust Inc, purchase 4,957 shares at $5.04 during a trade that took place back on Nov 15 ’23, which means that TAYLOR JOHN A is holding 269,513 shares at $24,981 based on the most recent closing price.
Stock Fundamentals for GPMT
Current profitability levels for the company are sitting at:
- -0.73 for the present operating margin
- 0.75 for the gross margin
The net margin for Granite Point Mortgage Trust Inc stands at -0.71. The total capital return value is set at -0.04. Equity return is now at value -12.32, with -3.39 for asset returns.
Currently, EBITDA for the company is 226.6 million with net debt to EBITDA at 1.36. When we switch over and look at the enterprise to sales, we see a ratio of 0.29. The receivables turnover for the company is 13.75for trailing twelve months and the total asset turnover is 0.06.
Conclusion
To sum up, Granite Point Mortgage Trust Inc (GPMT) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
