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Granite Point Mortgage Trust Inc [GPMT] Shares Fall Approximately -41.90% Over the Year


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Granite Point Mortgage Trust Inc shares valued at $83,162 were sold by KASNET STEPHEN G on Jun 05 ’24. At $3.08 per share, KASNET STEPHEN G sold 27,027 shares. The insider’s holdings dropped to 121,066 shares worth approximately $0.37 million following the completion of this transaction.

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Also, DEHNE TANUJA M sold 5,717 shares, netting a total of over 17,780 in proceeds. Following the sale of shares at $3.11 each, the insider now holds 50,710 shares.

Before that, TAYLOR JOHN A had added 5,500 shares to its account. In a trade valued at $27,830, the President and CEO bought Granite Point Mortgage Trust Inc shares for $5.06 each. Upon closing the transaction, the insider’s holdings increased to 5,500 shares, worth approximately $0.84 million.

As published in a research note from JMP Securities on February 20, 2024, Granite Point Mortgage Trust Inc [GPMT] has been rated down from a Mkt outperform to a Mkt perform. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of December 15, 2022, Keefe Bruyette has decreased its “Mkt perform” rating to a “an Underperform” for GPMT. Earlier on May 14, 2021, Credit Suisse upgraded its rating. Their new recommendation was “an Outperform” for GPMT stock which previously was a “a Neutral”.

Analyzing GPMT Stock Performance

During the last five days, there has been a drop of approximately -0.97%. Over the course of the year, Granite Point Mortgage Trust Inc shares have dropped approximately -48.65%. Shares of the company reached a 52-week high of $6.13 on 01/29/24 and a 52-week low of $2.79 on 06/20/24. A 50-day SMA is recorded $3.68, while a 200-day SMA reached $4.75. Nevertheless, trading volume fell to 1.39 million shares from 0.57 million shares the previous day.

Support And Resistance Levels for Granite Point Mortgage Trust Inc (GPMT)

According to the 24-hour chart, there is a support level at 2.86, which, if violated, would cause prices to drop to 2.67. In the upper region, resistance lies at 3.17. The next price resistance is at 3.29. RSI (Relative Strength Index) is 35.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.05, which suggests the price will decrease in the coming days. Percent R is at 42.22%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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