Is Granite Point Mortgage Trust Inc. (NYSE:GPMT) Giving A Buy Signal?

Granite Point Mortgage Trust Inc. (NYSE:GPMT) shares traded higher over the last trading session, gaining 202.67% on 03/26/20. The shares fell to a low of $4.60 before closing at $6.81. Intraday shares traded counted 33.35 million, which was -5174.58% lower than its 30-day average trading volume of 632.26K. GPMT’s previous close was $2.25 while the outstanding shares total 56.46M. The firm has a 12-month trailing P/E ratio of 5.17, and a growth ratio of 8.09. The stock’s Relative Strength Index (RSI) is 37.14, with weekly volatility at 49.86% and ATR at 1.75. The GPMT stock’s 52-week price range has touched low of $1.74 and a $19.39 high.

Investors have identified the tech company Granite Point Mortgage Trust Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $384.49 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.

Potential earnings growth for Granite Point Mortgage Trust Inc. (GPMT)

In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the third quarter of the year, Granite Point Mortgage Trust Inc. recorded a total of 28.43 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 14.58% coming in sequential stages and their sales for the third quarter increasing by 4.74%.

What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 10.75 million trying to sell their products during the last quarter, with the result yielding a gross income of 17.68 million. This allows shareholders to hold on to 56.46M with the revenue now reading 0.32 cents per share. This is a figure that is close to analyst’s prediction for their fourth quarter (0.35 cents a share).

Having a look at the company’s valuation, the company is expected to record 1.32 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on GPMT sounds very interesting.

Is the stock of GPMT attractive?

In related news, General Counsel, Karber Michael J. sold 1,155 shares of the company’s stock in a transaction that recorded on Jan 30. The sale was performed at an average price of 18.40, for a total value of 21,252. As the sale deal closes, the Secretary, Sandberg Rebecca B now sold 429 shares of the company’s stock, valued at 7,898. Also, President and CEO, TAYLOR JOHN A sold 10,853 shares of the company’s stock in a deal that was recorded on Jan 30. The shares were price at an average price of 18.40 per share, with a total market value of 199,695. Following this completion of acquisition, the Chief Financial Officer, URBASZEK MARCIN now holds 2,003 shares of the company’s stock, valued at 36,935. In the last 6 months, insiders have changed their ownership in shares of company stock by 1.30%.

1 out of 6 analysts covering the stock have rated it a Buy, while 4 have maintained a Hold recommendation on Granite Point Mortgage Trust Inc.. 0 analysts has assigned a Sell rating on the GPMT stock. The 12-month mean consensus price target for the company’s shares has been set at $17.75.