Ellington Financial Inc’s recent filing unveils that its Director Mumford Lisa unloaded Company’s shares for reported $0.28 million on Dec 14 ’23. In the deal valued at $13.06 per share,21,180 shares were sold. As a result of this transaction, Mumford Lisa now holds 63,540 shares worth roughly $0.73 million.
UBS initiated its Ellington Financial Inc [EFC] rating to a Neutral in a research note published on December 06, 2023; the price target was $13.50. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who began to cover the stock in mid October with a ‘”a Buy”‘ rating. Keefe Bruyette also remained covering EFC and has increased its forecast on May 15, 2023 with a “an Outperform” recommendation from previously “Mkt perform” rating. Credit Suisse revised its rating on January 09, 2023. It rated EFC as “a Neutral” which previously was an “an Outperform”.
Price Performance Review of EFC
On Monday, Ellington Financial Inc [NYSE:EFC] saw its stock jump 0.70% to $11.46. Over the last five days, the stock has lost -1.38%. Ellington Financial Inc shares have fallen nearly -9.83% since the year began. Nevertheless, the stocks have fallen -6.53% over the past one year. While a 52-week high of $14.21 was reached on 01/24/24, a 52-week low of $10.89 was recorded on 02/28/24. SMA at 50 days reached $11.74, while 200 days put it at $12.67. A total of 0.61 million shares were traded, compared to the trading of 0.72 million shares in the previous session.
Levels Of Support And Resistance For EFC Stock
The 24-hour chart illustrates a support level at 11.40, which if violated will result in even more drops to 11.33. On the upside, there is a resistance level at 11.49. A further resistance level may holdings at 11.52. The Relative Strength Index (RSI) on the 14-day chart is 47.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.19, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.67%. Stochastics %K at 24.34% indicates the stock is a holding.
How much short interest is there in Ellington Financial Inc?
A steep rise in short interest was recorded in Ellington Financial Inc stocks on Mar 15, 2024, dropping by -0.56 million shares to a total of 2.98 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.54 million shares. There was a decline of -18.79%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.18% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.29.
The most recent change occurred on October 20, 2022 when Maxim Group resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $15.50.
