Granite Point Mortgage Trust Inc. [GPMT] Stock trading around $6.49 per share: What’s Next?

Granite Point Mortgage Trust Inc. [NYSE: GPMT] price surged by 4.85 percent to reach at $0.3.

A sum of 1180049 shares traded at recent session while its average daily volume was at 791.31K shares. Granite Point Mortgage Trust Inc. shares reached a high of $6.59 and dropped to a low of $6.05 until finishing in the latest session at $6.49.

The one-year GPMT stock forecast points to a potential upside of 22.09. The average equity rating for GPMT stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Granite Point Mortgage Trust Inc. [GPMT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GPMT shares is $8.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GPMT stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JMP Securities have made an estimate for Granite Point Mortgage Trust Inc. shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on March 26, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on January 08, 2020, representing the official price target for Granite Point Mortgage Trust Inc. stock. On August 14, 2019, analysts decreased their price target for GPMT shares from 21 to 20.50.

The Average True Range (ATR) for Granite Point Mortgage Trust Inc. is set at 0.34, with the Price to Sales ratio for GPMT stock in the period of the last 12 months amounting to 1.45. The Price to Book ratio for the last quarter was 0.37, with the Price to Cash per share for the same quarter was set at 1.01.

GPMT Stock Performance Analysis:

Granite Point Mortgage Trust Inc. [GPMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.02. With this latest performance, GPMT shares dropped by -11.82% in over the last four-week period, additionally plugging by 51.64% over the last 6 months – not to mention a drop of -65.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GPMT stock in for the last two-week period is set at 46.48, with the RSI for the last a single of trading hit 47.91, and the three-weeks RSI is set at 46.45 for Granite Point Mortgage Trust Inc. [GPMT]. The present Moving Average for the last 50 days of trading for this stock 6.80, while it was recorded at 6.25 for the last single week of trading, and 10.17 for the last 200 days.

Insight into Granite Point Mortgage Trust Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Granite Point Mortgage Trust Inc. [GPMT] shares currently have an operating margin of +28.37 and a Gross Margin at +92.31. Granite Point Mortgage Trust Inc.’s Net Margin is presently recorded at +28.37.

Return on Total Capital for GPMT is now 1.81, given the latest momentum, and Return on Invested Capital for the company is 2.30. Return on Equity for this stock inclined to 7.60, with Return on Assets sitting at 1.80. When it comes to the capital structure of this company, Granite Point Mortgage Trust Inc. [GPMT] has a Total Debt to Total Equity ratio set at 332.62. Additionally, GPMT Total Debt to Total Capital is recorded at 76.89, with Total Debt to Total Assets ending up at 76.07. Long-Term Debt to Equity for the company is recorded at 263.34, with the Long-Term Debt to Total Capital now at 60.81.

Receivables Turnover for the company is 22.92 with a Total Asset Turnover recorded at a value of 0.06.

GPMT Stock EPS

With the latest financial reports released by the company, Granite Point Mortgage Trust Inc. posted 0.34/share EPS, while the average EPS was predicted by analysts to be reported at 0.38/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GPMT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Granite Point Mortgage Trust Inc. go to 0.64%.

Granite Point Mortgage Trust Inc. [GPMT] Insider Position Details

There are presently around $250 million, or 71.40% of GPMT stock, in the hands of institutional investors. The top three institutional holders of GPMT stocks are: BLACKROCK INC. with ownership of 9,763,700, which is approximately 4.249% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 5,353,030 shares of the stock with an approximate value of $34.74 million in GPMT stocks shares; and TIMBERCREEK INVESTMENT MANAGEMENT INC., currently with $16.47 million in GPMT stock with ownership of nearly 1.188% of the company’s market capitalization.

Positions in Granite Point Mortgage Trust Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 82 institutional holders increased their position in Granite Point Mortgage Trust Inc. [NYSE:GPMT] by around 5,586,397 shares. Additionally, 81 investors decreased positions by around 8,369,121 shares, while 51 investors held positions by with 24,600,093 shares. The mentioned changes placed institutional holdings at 38,555,611 shares, according to the latest SEC report filing. GPMT stock had 33 new institutional investments in for a total of 2,230,230 shares, while 37 institutional investors sold positions of 4,123,152 shares during the same period.

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