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Analyzing Granite Point Mortgage Trust Inc (GPMT) After Recent Trading Activity

Granite Point Mortgage Trust Inc’s filing revealed that its President and CEO TAYLOR JOHN A acquired Company’s shares for reported $27830.0 on Nov 16 ’23. In the deal valued at $5.06 per share,5,500 shares were bought. As a result of this transaction, TAYLOR JOHN A now holds 275,013 shares worth roughly $1.18 million.

Then, TAYLOR JOHN A bought 4,957 shares, generating $24,981 in total proceeds. Upon buying the shares at $5.04, the President and CEO now owns 269,513 shares.

Before that, TAYLOR JOHN A bought 4,000 shares. Granite Point Mortgage Trust Inc shares valued at $19,840 were divested by the President and CEO at a price of $4.96 per share. As a result of the transaction, TAYLOR JOHN A now holds 264,556 shares, worth roughly $1.13 million.

JMP Securities downgraded its Granite Point Mortgage Trust Inc [GPMT] rating to a Mkt perform from a a Mkt outperform in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in early December with a ‘”a Buy”‘ rating. Keefe Bruyette also remained covering GPMT and has decreased its forecast on December 15, 2022 with a “an Underperform” recommendation from previously “Mkt perform” rating. Credit Suisse revised its rating on May 14, 2021. It rated GPMT as “an Outperform” which previously was an “a Neutral”.

Price Performance Review of GPMT

On Tuesday, Granite Point Mortgage Trust Inc [NYSE:GPMT] saw its stock fall -2.94% to $4.29. Over the last five days, the stock has lost -4.03%. Granite Point Mortgage Trust Inc shares have fallen nearly -27.78% since the year began. Nevertheless, the stocks have fallen -4.03% over the past one year. While a 52-week high of $6.41 was reached on 01/29/24, a 52-week low of $3.97 was recorded on 04/16/24. SMA at 50 days reached $4.59, while 200 days put it at $5.11. A total of 0.31 million shares were traded, compared to the trading of 0.16 million shares in the previous session.

Levels Of Support And Resistance For GPMT Stock

The 24-hour chart illustrates a support level at 4.23, which if violated will result in even more drops to 4.18. On the upside, there is a resistance level at 4.38. A further resistance level may holdings at 4.48. The Relative Strength Index (RSI) on the 14-day chart is 40.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.75%. Stochastics %K at 46.93% indicates the stock is a holding.

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