Sunday, June 26, 2022

Investing in New York Mortgage Trust Inc. (NYMT): What You Must Know

Keefe Bruyette upgraded its New York Mortgage Trust Inc. [NYMT] rating to an Outperform from a a Mkt perform in a research note published on Tuesday. PT values the company’s stock at a premium of 44.0 to its Tuesday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in mid May from “a Neutral” to “an Underperform”. B. Riley Securities began covering NYMT with a “Buy” recommendation on May 12, 2021. BTIG Research started covering the stock on November 24, 2020. It rated NYMT as “a Neutral”.


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Price Performance Review of NYMT

On Tuesday, New York Mortgage Trust Inc. [NASDAQ:NYMT] saw its stock jump 6.78% to $2.52. On the same session, the stock had its day’s lowest price of $2.45, but rose to a high of $2.57. Over the last five days, the stock has lost -2.70%. New York Mortgage Trust Inc. shares have fallen nearly -32.26% since the year began. Nevertheless, the stocks have fallen -46.50% over the past one year. While a 52-week high of $4.72 was reached on 01/04/22, a 52-week low of $2.24 was recorded on 06/16/22. SMA at 50 days reached $3.07, while 200 days put it at $3.71. A total of 6.12 million shares were traded, compared to the trading of 10.17 million shares in the previous session.

Levels Of Support And Resistance For NYMT Stock

The 24-hour chart illustrates a support level at 2.46, which if violated will result in even more drops to 2.39. On the upside, there is a resistance level at 2.58. A further resistance level may holdings at 2.63. The Relative Strength Index (RSI) on the 14-day chart is 35.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.21%. Stochastics %K at 18.44% indicates the stock is a buying.

New York Mortgage Trust Inc. [NYMT] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 62,400,777 shares, or roughly 16.37% of the outstanding NYMT shares. In other words, the investor’s shares have fallen by -1,635,081 from its previous 13-F filing of 64035858.0. Additionally, The Vanguard Group, Inc. increased 3.16% of its stake after which the total value it holdings stand at $75,325,203, while SSgA Funds Management, Inc. added 8.59% of its stake to hold $43.87 million in the firm. Over the last quarter, Allspring Global Investments LLC purchased 3,210,459 shares of New York Mortgage Trust Inc., while Geode Capital Management LLC bought 284,915 shares. At present, Invesco Capital Management LLC is holding 5,984,908 shares valued at $18.13 million. Balyasny Asset Management LP owned 4,715,466 shares of the company at the time of its most recent 13F filing, worth $14.29 million.

According to FactSet, New York Mortgage Trust Inc.’s share price will average $3.93 in the next year, based on opinions of analysts polled by the firm. This is up nearly 69.49 percent from its previous closing price of $2.36. Analysts expect New York Mortgage Trust Inc. stock to reach the higher price of $4.50, while the lowest price estimate is $3.50. However, 9 analysts have rated NYMT stock as an Overweight in their predictions for 2022.

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