An Analysis of Redwood Trust Inc. (RWT)’s Potential Price Growth


Redwood Trust Inc.’s recently made public that its Chief Accounting Officer COCHRANE COLLIN L. unloaded Company’s shares for reported $80303.0 on Dec 20. In the deal valued at $6.86 per share,11,706 shares were sold. As a result of this transaction, COCHRANE COLLIN L. now holds 56,899 shares worth roughly $ 0.43 million.

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Then, Stone Andrew P sold 7,000 shares, generating $48,020 in total proceeds. Upon selling the shares at $6.86, the Chief Legal Officer now owns 106,821 shares.

Wedbush initiated its Redwood Trust Inc. [RWT] rating to an Outperform in a research note published on Monday, October 05, 2022; the price target was $9. PT values the company’s stock at a premium of 15.89 to its Monday closing price. A number of analysts have revised their coverage, including BTIG Research’s analysts, who decreased its forecast for the stock in late August from “a Buy” to “a Neutral”. JP Morgan began covering RWT with “an Overweight” recommendation on May 13, 2022. Wells Fargo started covering the stock on November 01, 2021. It rated RWT as “an Equal weight”.

Price Performance Review of RWT

On Monday, Redwood Trust Inc. [NYSE:RWT] saw its stock fall -0.66% to $7.57. On the same session, the stock had its day’s lowest price of $7.56, but rose to a high of $7.72. Over the last five days, the stock has lost -5.02%. Redwood Trust Inc. shares have risen nearly 11.98% since the year began. Nevertheless, the stocks have fallen -26.29% over the past one year. While a 52-week high of $11.03 was reached on 02/02/23, a 52-week low of $5.51 was recorded on 01/24/23. SMA at 50 days reached $7.63, while 200 days put it at $7.71. A total of 0.73 million shares were traded, compared to the trading of 0.89 million shares in the previous session.

Levels Of Support And Resistance For RWT Stock

The 24-hour chart illustrates a support level at 7.51, which if violated will result in even more drops to 7.46. On the upside, there is a resistance level at 7.67. A further resistance level may holdings at 7.78. The Relative Strength Index (RSI) on the 14-day chart is 39.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.92%. Stochastics %K at 8.63% indicates the stock is a buying.

How much short interest is there in Redwood Trust Inc.?

A steep rise in short interest was recorded in Redwood Trust Inc. stocks on Jan 12, 2023, dropping by -0.66 million shares to a total of 8.47 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 9.13 million shares. There was a decline of -7.79%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 10.59% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.99.

Redwood Trust Inc. [RWT] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 18,953,438 shares, or roughly 16.72% of the outstanding RWT shares. In other words, the investor’s shares have fallen by -106,076 from its previous 13-F filing of 19059514.0. Additionally, The Vanguard Group, Inc. increased 1.69% of its stake after which the total value it holdings stand at $104,501,480, while SSgA Funds Management, Inc. added 9.37% of its stake to hold $39.86 million in the firm. Over the last quarter, Adage Capital Management LP purchased 947,577 shares of Redwood Trust Inc., while Capital Research & Management Co bought 0 shares. At present, FIAM LLC is holding 2,428,836 shares valued at $20.31 million. LSV Asset Management owned 2,393,827 shares of the company at the time of its most recent 13F filing, worth $20.01 million.

According to FactSet, Redwood Trust Inc.’s share price will average $9.11 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.11 percent from its previous closing price of $7.62. Analysts expect Redwood Trust Inc. stock to reach the higher price of $11.00, while the lowest price estimate is $8.00. However, 10 analysts have rated RWT stock as a Buy in their predictions for 2023.


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