Granite Point Mortgage Trust Inc. (NYSE:GPMT) finished Friday with a subtraction of -$0.08 to close at $5.43, a downside of -1.45 percent. An average of 545,040 shares of common stock have been traded in the last five days. There was a fall of -$0.24 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 478,220 shares traded, while the 50-day average volume stands at 569,670.
GPMT stock has decreased by -4.06% in the last month. The company shares reached their 1-month lowest point of $5.35 on 08/11/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $3.97 and a high of $10.28 in 52 weeks. It has reached a new high 14 times so far this year and achieved 1.31% or $0.07 in price. In spite of this, the price is down -47.18% from the 52-week high.
Valuation Metrics
Granite Point Mortgage Trust Inc. (GPMT) stock’s beta is 1.62. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.22, the price-to-book (PB) ratio at 0.31, and the price-to-cash flow ratio at 57.98.
Financial Health
Further, the company has a long term debt to equity ratio of 1.41 and a total debt to equity ratio of 2.69 for the quarter ending June 29. Its gross profit as reported stood at -$40.81 million compared to revenue of $84.72 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Granite Point Mortgage Trust Inc.’s return on assets was -2.50%.
Earnings Surprise
The analyst consensus anticipated Granite Point Mortgage Trust Inc.’s latest quarter earnings to come in at $0.14 per share, but it turned out to be $0.12, a -14.30% surprise. For the quarter, EBITDA amounted to $6.52 million. At the end of the quarter ending June 29, Granite Point Mortgage Trust Inc.’s stock balance sheet showed total debt was $2.35 billion. Shareholders own equity worth $51.58 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Granite Point Mortgage Trust Inc. (GPMT) price momentum. RSI 9-day as of the close on 11 August was 37.04%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.62%.
As of today, GPMT’s price is $5.57 -4.23% or -$0.24 from its 5-day moving average. GPMT is currently trading -2.51% lower than its 20-day SMA and +7.31% higher than its 100-day SMA. However, the stock’s current price level is +16.27% above the SMA50 and -18.96% below the SMA200.
The stochastic %K and %D were 20.04% and 32.36%, respectively, and the average true range (ATR) was 0.19. With the 14-day stochastic at 14.29% and the average true range at 0.18, the RSI (14) stands at 44.32%. The stock has reached -0.09 on the 9-day MACD Oscillator while the 14-day reading was at -0.16.
Analyst Ratings
Keefe Bruyette downgraded Granite Point Mortgage Trust Inc. (NYSE: GPMT) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a Mkt perform. The consensus rating for Granite Point Mortgage Trust Inc. (GPMT) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell GPMT, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 2 others rate it as a “buy”.
What is GPMT’s price target for the next 12 months?
Analysts predict a range of price targets between $5.50 and $9.00, with a median target of $7.00. Taking a look at these predictions, the average price target given by analysts for Granite Point Mortgage Trust Inc. (GPMT) stock is $7.13.
