Taking this into account, B. Riley Securities initiated its Rithm Capital Corp. [RITM] rating to a Buy in a research note published on Tuesday, December 16, 2022; the price target was $12. PT values the company’s stock at a premium of 23.08 to its Tuesday closing price. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in late September from “an Underweight” to “a Neutral”.
Price Performance Review of RITM
On Tuesday, Rithm Capital Corp. [NYSE:RITM] saw its stock jump 0.65% to $9.23. On the same session, the stock had its day’s lowest price of $9.09, but rose to a high of $9.28. Over the last five days, the stock has gained 4.41%. Rithm Capital Corp. shares have risen nearly 12.97% since the year began. Nevertheless, the stocks have fallen -12.10% over the past one year. While a 52-week high of $11.75 was reached on 01/24/23, a 52-week low of $6.86 was recorded on 01/03/23. SMA at 50 days reached $8.75, while 200 days put it at $9.37. A total of 4.04 million shares were traded, compared to the trading of 5.07 million shares in the previous session.
Levels Of Support And Resistance For RITM Stock
The 24-hour chart illustrates a support level at 9.12, which if violated will result in even more drops to 9.01. On the upside, there is a resistance level at 9.31. A further resistance level may holdings at 9.39. The Relative Strength Index (RSI) on the 14-day chart is 68.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.35, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 5.38%. Stochastics %K at 95.86% indicates the stock is a selling.
How much short interest is there in Rithm Capital Corp.?
A steep rise in short interest was recorded in Rithm Capital Corp. stocks on Oct 13, 2022, growing by 2.55 million shares to a total of 10.01 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 7.46 million shares. There was a rise of 25.47%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.48.
Rithm Capital Corp. [RITM] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 42,430,627 shares, or roughly 8.96% of the outstanding RITM shares. In other words, the investor’s shares have risen by 264,638 from its previous 13-F filing of 42165989.0. Additionally, BlackRock Fund Advisors decreased -0.42% of its stake after which the total value it holdings stand at $162,547,567, while Pacer Advisors, Inc. added 34.50% of its stake to hold $131.41 million in the firm. Over the last quarter, FIAM LLC purchased 415,119 shares of Rithm Capital Corp., while Michigan Department of Treasury bought -18,587 shares. At present, SSgA Funds Management, Inc. is holding 8,028,996 shares valued at $65.6 million. LSV Asset Management owned 6,543,147 shares of the company at the time of its most recent 13F filing, worth $53.46 million.
According to FactSet, Rithm Capital Corp.’s share price will average $11.36 in the next year, based on opinions of analysts polled by the firm. This is up nearly 30.86 percent from its previous closing price of $9.17. Analysts expect Rithm Capital Corp. stock to reach the higher price of $13.00, while the lowest price estimate is $9.00. However, 13 analysts have rated RITM stock as a Buy in their predictions for 2023.