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

Granite Point Mortgage Trust Inc’s recently made public that its Director KASNET STEPHEN G unloaded Company’s shares for reported $83162.0 on Jun 05 ’24. In the deal valued at $3.08 per share,27,027 shares were sold. As a result of this transaction, KASNET STEPHEN G now holds 121,066 shares worth roughly $0.37 million.

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Then, DEHNE TANUJA M sold 5,717 shares, generating $17,780 in total proceeds. Upon selling the shares at $3.11, the Director now owns 50,710 shares.

Before that, TAYLOR JOHN A bought 5,500 shares. Granite Point Mortgage Trust Inc shares valued at $27,830 were divested by the President and CEO at a price of $5.06 per share. As a result of the transaction, TAYLOR JOHN A now holds 275,013 shares, worth roughly $0.85 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 Friday, Granite Point Mortgage Trust Inc [NYSE:GPMT] saw its stock fall -0.96% to $3.09. Over the last five days, the stock has lost -1.90%. Granite Point Mortgage Trust Inc shares have fallen nearly -47.98% since the year began. Nevertheless, the stocks have fallen -41.81% over the past one year. While a 52-week high of $6.41 was reached on 01/29/24, a 52-week low of $2.86 was recorded on 05/29/24. SMA at 50 days reached $3.91, while 200 days put it at $4.83. A total of 0.57 million shares were traded, compared to the trading of 0.45 million shares in the previous session.

Levels Of Support And Resistance For GPMT Stock

The 24-hour chart illustrates a support level at 3.02, which if violated will result in even more drops to 2.96. On the upside, there is a resistance level at 3.14. A further resistance level may holdings at 3.20. The Relative Strength Index (RSI) on the 14-day chart is 33.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.16%. Stochastics %K at 37.87% indicates the stock is a holding.

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