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. Ellington Financial Inc shares valued at $276,611 were sold by Mumford Lisa on Dec 14 ’23. At $13.06 per share, Mumford Lisa sold 21,180 shares. The insider’s holdings dropped to 63,540 shares worth approximately $0.74 million following the completion of this transaction.
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As published in their initiating research note from UBS on December 06, 2023, Ellington Financial Inc [EFC] has been a Neutral and the price target has been revised to $13.50. Analysts at B. Riley Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of May 15, 2023, Keefe Bruyette has increased its “Mkt perform” rating to a “an Outperform” for EFC. Earlier on January 09, 2023, Credit Suisse downgraded its rating. Their new recommendation was “a Neutral” for EFC stock which previously was a “an Outperform”.
Analyzing EFC Stock Performance
During the last five days, there has been a drop of approximately -0.34%. Over the course of the year, Ellington Financial Inc shares have dropped approximately -8.65%. Shares of the company reached a 52-week high of $13.04 on 01/24/24 and a 52-week low of $10.89 on 02/28/24. A 50-day SMA is recorded $11.93, while a 200-day SMA reached $12.75. Nevertheless, trading volume fell to 0.74 million shares from 0.76 million shares the previous day.
Support And Resistance Levels for Ellington Financial Inc (EFC)
According to the 24-hour chart, there is a support level at 11.52, which, if violated, would cause prices to drop to 11.44. In the upper region, resistance lies at 11.66. The next price resistance is at 11.71. RSI (Relative Strength Index) is 49.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 39.74%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ellington Financial Inc subject to short interest?
Stocks of Ellington Financial Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.56 million shares to 2.98 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.54 million shares. A decline of -18.79% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.29 of the overall float, the days-to-cover ratio (short ratio) decline to 2.29.
