As of Friday close, Granite Point Mortgage Trust Inc.’s (NYSE:GPMT) stock traded at $5.00. The average number of shares traded per day over the past five days has been 511,680 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.43 fall in that time frame. In the last twenty days, the average volume was 492,960, while in the previous 50 days, it was 555,140.
Since last month, GPMT stock retreated -11.50%. Shares of the company fell to $4.91 on 08/18/23, the lowest level in the past month. A 52-week high of $10.14 was reached on 02/02/23 after having rallying from a 52-week low of $3.97. Since the beginning of this year, GPMT’s stock price has dropped by -6.72% or -$0.36, and marked a new high 14 times. However, the stock has declined by -50.67% since its 52-week high.
Valuation Metrics
The stock’s beta is 1.64. Besides these, the trailing price-to-sales (P/S) ratio of 1.14, the price-to-book (PB) ratio of 0.28, and the price-to-cash flow ratio of 4.44 may also be considered.
The latest dividend of $0.20 per share was paid out, remained unchanged from last year’s $0.20. On Tuesday December 20 2022, a $0.05 dividend decrease was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.41, and the total debt-to-equity ratio was 2.69. On the profitability front, the trailing twelve-month gross margin is 36.20% percent. In the year ended June 29, operating margins totaled -17.90%. Based on annual data, GPMT earned -$40.81 million in gross profit and brought in $84.72 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -1.20%. Return on equity (ROE) for the past 12 months was -5.60%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Granite Point Mortgage Trust Inc. to report $0.14 quarterly earnings, the actual figure was $0.12 per share, beating the consensus estimate by -14.30%. During the quarter, the company generated $6.52 million in EBITDA. The value of shareholders’ equity is $51.58 million.
Technical Picture
This quick technical analysis looks at Granite Point Mortgage Trust Inc.’s (GPMT) price momentum. With a historical volatility rate of 24.20%, the RSI 9-day stood at 20.89% on 18 August.
With respect to its five-day moving average, the current Granite Point Mortgage Trust Inc. price is down by -7.92% percent or -$0.43. At present, GPMT shares trade -10.39% below its 20-day simple moving average and +0.81% percent above its 100-day simple moving average. However, the stock is currently trading approximately -5.84% below its SMA50 and -36.39% below its SMA200.
Stochastic coefficient K was 5.04% and Stochastic coefficient D was 5.68%, while ATR was 0.19. Given the Stochastic reading of 9.42% for the 14-day period, the RSI (14) reading has been calculated as 30.86%. As of today, the MACD Oscillator reading stands at -0.28, while the 14-day reading stands at -0.39.
Analyst Ratings
Granite Point Mortgage Trust Inc. downgraded its rating on Granite Point Mortgage Trust Inc. (NYSE: GPMT) to an Underperform in a note to investors on December 15, 2022. The analysts firm previously had a Mkt perform rating on the stock.Granite Point Mortgage Trust Inc. (GPMT) has been rated Overweight by analysts. According to 1 brokerage firm, GPMT is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Granite Point Mortgage Trust Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $7.00, the current consensus forecast for the stock is $5.50 – $9.00. Based on these forecasts, analysts predict Granite Point Mortgage Trust Inc. (GPMT) will achieve an average price target of $7.13.
