The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Two Harbors Investment Corp. shares valued at $61,368 were sold by RUSH ROBERT on Feb 27. At $16.73 per share, RUSH ROBERT sold 3,668 shares. The insider’s holdings dropped to 58,229 shares worth approximately $0.83 million following the completion of this transaction.
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Also, VINAR JASON sold 1,949 shares, netting a total of over 32,607 in proceeds. Following the sale of shares at $16.73 each, the insider now holds 33,046 shares.
Before that, HANSON ALECIA had sold 1,684 shares from its account. In a trade valued at $28,173, the Vice President & CAO traded Two Harbors Investment Corp. shares for $16.73 each. Upon closing the transaction, the insider’s holdings decreased to 1,684 shares, worth approximately $0.33 million.
As published in a research note from Maxim Group on February 10, 2023, Two Harbors Investment Corp. [TWO] has been rated up from a Hold to a Buy and the price target has been revised to $19. This represents a 24.68% premium over Wednesday’s closing price. Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in mid November. As of January 04, 2022, Citigroup has initiated its “Neutral” rating for TWO. Earlier on June 29, 2021, Credit Suisse downgraded its rating. Their new recommendation was “a Neutral” for TWO stock which previously was a “an Outperform”.
Analyzing TWO Stock Performance
On Wednesday, Two Harbors Investment Corp. [NYSE: TWO] plunged -3.70% to $14.31. The stock’s lowest price that day was $13.99, but it reached a high of $14.52 in the same session. During the last five days, there has been a drop of approximately -10.67%. Over the course of the year, Two Harbors Investment Corp. shares have dropped approximately -9.26%. Shares of the company reached a 52-week high of $18.67 on 02/02/23 and a 52-week low of $13.99 on 03/15/23. A 50-day SMA is recorded $16.79, while a 200-day SMA reached $17.45. Nevertheless, trading volume fell to 1.24 million shares from 1.2 million shares the previous day.
Support And Resistance Levels for Two Harbors Investment Corp. (TWO)
According to the 24-hour chart, there is a support level at 14.03, which, if violated, would cause prices to drop to 13.74. In the upper region, resistance lies at 14.56. The next price resistance is at 14.80. RSI (Relative Strength Index) is 26.41 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.24, which suggests the price will decrease in the coming days. Percent R is at 89.08%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Two Harbors Investment Corp. subject to short interest?
Stocks of Two Harbors Investment Corp. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.66 million shares to 3.22 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.56 million shares. A jump of 20.5% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.21.
Which companies own the most shares of Two Harbors Investment Corp. (TWO)?
According to BlackRock Fund Advisors filings, the company currently owns 14,283,550 shares, which is about 14.78% of the total TWO shares outstanding. The investor’s shares have appreciated by 212,406 from its previous 13-F filing of 14071144.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $160,384,957. Allspring Global Investments LLC acquire a 0.04% interest valued at $65.65 million while SSgA Funds Management, Inc. purchased a 114,016 stake. A total of -206,685 shares of Two Harbors Investment Corp. were bought by Massachusetts Financial Services during the quarter, and 41,751 were bought by Geode Capital Management LLC. In its current portfolio, Balyasny Asset Management LP holds 1,468,821 shares valued at $24.34 million.
In terms of Two Harbors Investment Corp. share price expectations, FactSet research, analysts set an average price target of $17.41 in the next 12 months, up nearly 15.28% from the previous closing price of $14.86. Analysts anticipate Two Harbors Investment Corp. stock to reach $19.00 by 2023, with the lowest price target being $16.00. In spite of this, 9 analysts ranked Two Harbors Investment Corp. stock as a Hold at the end of 2023. On December 18, 2020, Keefe Bruyette assigned a price target of “a Mkt perform” to the stock and downgraded coverage with a $6.75.