Ellington Residential Mortgage REIT (NYSE:EARN) shares traded higher over the last trading session, gaining 0.23% on 06/17/21. The shares fell to a low of $12.61 before closing at $12.94. Intraday shares traded counted 0.46 million, which was -290.01% lower than its 30-day average trading volume of 117.71K. EARN’s previous close was $12.91 while the outstanding shares total 12.34M. The stock’s Relative Strength Index (RSI) is 55.54, with weekly volatility at 2.54% and ATR at 0.30. The EARN stock’s 52-week price range has touched low of $9.34 and a $13.92 high.
Investors have identified the REIT – Mortgage company Ellington Residential Mortgage REIT 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 $159.03 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 Ellington Residential Mortgage REIT (EARN)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/03/2021 quarter of the year, Ellington Residential Mortgage REIT recorded a total of 6.54 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -51.2% coming in sequential stages and their sales for the 08/03/2021 quarter increasing by 5.52%.
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 2.25 million trying to sell their products during the last quarter, with the result yielding a gross income of 4.29 million. This allows shareholders to hold on to 12.34M with the recently reported earning now reading 0.01 cents per share. This is a figure that compared to analyst’s prediction for their 08/03/2021 (0.22 cents a share).
Is the stock of EARN attractive?
In the last 6 months, insiders have changed their ownership in shares of company stock by 0.20%.
2 out of 3 analysts covering the stock have rated it a Buy, while 1 have maintained a Hold recommendation on Ellington Residential Mortgage REIT. 0 analysts has assigned a Sell rating on the EARN stock. The 12-month mean consensus price target for the company’s shares has been set at $13.08.