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 $180,647 were sold by Vranos Michael W on Oct 15 ’24. At $12.58 per share, Vranos Michael W sold 14,361 shares. The insider’s holdings dropped to 153,998 shares worth approximately $1.91 million following the completion of this transaction.
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Also, Vranos Michael W sold 14,000 shares, netting a total of over 174,706 in proceeds. Following the sale of shares at $12.48 each, the insider now holds 168,359 shares.
Before that, Vranos Michael W had sold 5,900 shares from its account. In a trade valued at $71,508, the Co-Chief Investment Officer traded Ellington Financial Inc shares for $12.12 each. Upon closing the transaction, the insider’s holdings decreased to 5,900 shares, worth approximately $2.23 million.
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 surge of approximately 1.81%. Over the course of the year, Ellington Financial Inc shares have dropped approximately -2.44%. Shares of the company reached a 52-week high of $13.46 on 08/26/24 and a 52-week low of $10.88 on 04/16/24. A 50-day SMA is recorded $12.58, while a 200-day SMA reached $12.23. Nevertheless, trading volume fell to 0.54 million shares from 0.53 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 12.29, which, if violated, would cause prices to drop to 12.19. In the upper region, resistance lies at 12.47. The next price resistance is at 12.54. RSI (Relative Strength Index) is 51.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.12, which suggests the price will decrease in the coming days. Percent R is at 31.87%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
