RITM stock rated a Buy by UBS

Rithm Capital Corporation’s recent filing unveils that its 10% Owner Rithm Capital Corp. acquired Company’s shares for reported $376.74 million on Nov 17. In the deal valued at $12.70 per share,29,664,827 shares were bought. As a result of this transaction, Rithm Capital Corp. now holds 1,000 shares worth roughly $10930.0.

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UBS initiated its Rithm Capital Corporation [RITM] rating to a Buy in a research note published on , December 06, 2023; the price target was $12.50.

Price Performance Review of RITM

On Tuesday, Rithm Capital Corporation [NYSE:RITM] saw its stock fall -0.64% to $10.93. Over the last five days, the stock has gained 0.09%. Rithm Capital Corporation shares have risen nearly 2.34% since the year began. Nevertheless, the stocks have risen 17.15% over the past one year. While a 52-week high of $11.15 was reached on 01/26/24, a 52-week low of $7.40 was recorded on 01/05/24. SMA at 50 days reached $10.61, while 200 days put it at $9.59. A total of 3.56 million shares were traded, compared to the trading of 2.98 million shares in the previous session.

Levels Of Support And Resistance For RITM Stock

The 24-hour chart illustrates a support level at 10.86, which if violated will result in even more drops to 10.80. On the upside, there is a resistance level at 11.02. A further resistance level may holdings at 11.12. The Relative Strength Index (RSI) on the 14-day chart is 59.09, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 26.67%. Stochastics %K at 79.11% indicates the stock is a holding.

How much short interest is there in Rithm Capital Corporation?

A steep rise in short interest was recorded in Rithm Capital Corporation stocks on Jan 11, 2024, dropping by 90000.0 shares to a total of 6.46 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 6.55 million shares. There was a decline of -1.39%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.34% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.67.

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