why New York Mortgage Trust Inc. [NYMT] is a Good Choice for Investors After New Price Target of $3.69

New York Mortgage Trust Inc. [NASDAQ: NYMT] plunged by -$0.1 during the normal trading session on Tuesday and reaching a high of $2.8363 during the day while it closed the day at $2.77. The company report on August 2, 2022 that New York Mortgage Trust Reports Second Quarter 2022 Results.

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New York Mortgage Trust, Inc. (Nasdaq: NYMT) (“NYMT,” the “Company,” “we,” “our” or “us”) today reported results for the three months ended June 30, 2022.

Summary of Second Quarter 2022: (dollar amounts in thousands, except per share data).

New York Mortgage Trust Inc. stock has also gained 3.36% of its value over the past 7 days. However, NYMT stock has inclined by 6.95% in the 3 months of the year. Over the past six months meanwhile, it has lost -23.90% and lost -25.54% year-on date.

The market cap for NYMT stock reached $1.04 billion, with 381.20 million shares outstanding and 373.34 million shares in the current float. Compared to the average trading volume of 3.46M shares, NYMT reached a trading volume of 4146423 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about New York Mortgage Trust Inc. [NYMT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NYMT shares is $3.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NYMT stock is a recommendation set at 2.60. 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.

Keefe Bruyette have made an estimate for New York Mortgage Trust Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on July 18, 2022. The new note on the price target was released on February 23, 2022, representing the official price target for New York Mortgage Trust Inc. stock. Previously, the target price had yet another raise to $4.50, while BofA Securities analysts kept a Underperform rating on NYMT stock.

The Average True Range (ATR) for New York Mortgage Trust Inc. is set at 0.09, with the Price to Sales ratio for NYMT stock in the period of the last 12 months amounting to 4.07. The Price to Book ratio for the last quarter was 0.68, with the Price to Cash per share for the same quarter was set at 1.09.

NYMT stock trade performance evaluation

New York Mortgage Trust Inc. [NYMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.36. With this latest performance, NYMT shares dropped by -9.48% in over the last four-week period, additionally sinking by -23.90% over the last 6 months – not to mention a drop of -35.73% 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 NYMT stock in for the last two-week period is set at 42.77, with the RSI for the last a single of trading hit 41.70, and the three-weeks RSI is set at 44.19 for New York Mortgage Trust Inc. [NYMT]. The present Moving Average for the last 50 days of trading for this stock 2.91, while it was recorded at 2.81 for the last single week of trading, and 3.30 for the last 200 days.

Earnings per share (EPS) analysis for New York Mortgage Trust Inc. [NYMT] stock

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 NYMT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New York Mortgage Trust Inc. go to 6.59%.

New York Mortgage Trust Inc. [NYMT]: Insider Ownership positions

There are presently around $579 million, or 55.90% of NYMT stock, in the hands of institutional investors. The top three institutional holders of NYMT stocks are: BLACKROCK INC. with ownership of 67,150,709, which is approximately 1.589% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 25,750,693 shares of the stock with an approximate value of $71.33 million in NYMT stocks shares; and STATE STREET CORP, currently with $40.79 million in NYMT stock with ownership of nearly 1.697% of the company’s market capitalization.

Positions in New York Mortgage Trust Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 103 institutional holders increased their position in New York Mortgage Trust Inc. [NASDAQ:NYMT] by around 11,816,354 shares. Additionally, 120 investors decreased positions by around 19,651,214 shares, while 44 investors held positions by with 177,385,277 shares. The mentioned changes placed institutional holdings at 208,852,845 shares, according to the latest SEC report filing. NYMT stock had 24 new institutional investments in for a total of 3,236,215 shares, while 33 institutional investors sold positions of 5,642,770 shares during the same period.


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