Stock analysts at Ladenburg Thalmann upped their rating on shares of New York Mortgage Trust, Inc. (NASDAQ:NYMT) from Neutral to a new rating of Buy in their opinion released on August 06. Analysts at Barclays downgraded the company stock to a Underweight call from its previous Equal Weight stance, in a flash note that dated back to February 28.
For the period that ended January 15, 2020, the short interest in New York Mortgage Trust, Inc. (NASDAQ:NYMT) stock is on the down. The 37.65% decline could be an indication that investors and traders expect a growth in the share price, often as a result of an advancement in the business’ fundamentals. The average brokerage opinion at 2.7 suggests acquiring these shares. Between December 31 and January 15, the total count of shorted shares totaled 7.39 million. That number was 4,462,640 less shares compared with the total of 11.85 million shares in the space of prior two weeks, which suggests more traders or funds are betting that the company stock will move up. The average daily volume for NYMT at the January 15th settlement surged to 8,737,645, versus 3,993,806 at the December 31st report. That led days to cover to move at 1, a 66.31% decrease compared to the 2.967928 days to cover recorded at the prior short interest data release.
Let’s take a glimpse at some insider activity at New York Mortgage Trust, Inc. (NASDAQ:NYMT) and observe the pattern. The earliest insider trade happened on 06/14/2019. Hainey Alan L parted with a total of 10 thousand shares of the firm at average share price of $6.27. The total amount for the sale was set at $62.7 thousand. On completing this exchange, the Director account balance was 144.3 thousand shares. The stock grew 1.12 percent from that insider sale. On 12/12/2017, Hainey Alan L, Director, did a sale of 0.2 thousand shares at a price of $6.38 per share. This got rid of 1.28 thousand shares from the insider’s fortune and the stock experienced a -0.63 percent retreat in price since the news became public. This exchange saw 131.37 thousand shares get out from the Director account. On 06/09/2016, President Donlon Kevin M. recorded a purchase transaction valued at $365.43 thousand. The purchase at $6.3 a share has added 58 thousand shares into the insider’s portfolio position. Meanwhile, shares price witnessed 0.63 percent increase since the transaction reporting date. The company insider is left with 519 thousand shares remaining in the account. Donlon Kevin M., who works as President at the company, performed a purchase of 203.4 thousand shares in a transaction worth $1.2 million. The acquisition recorded on 05/31/2016 was priced at $5.92 per share. The stock price soared 7.09 percent since the transaction. Donlon Kevin M. currently holds a stake of 461 thousand in NYMT stock which is worth $2.92 million after the insider buying.
New York Mortgage Trust, Inc. (NYMT) is most likely going to rise -2.05 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $7 as 12-month high price target. This represents a whopping 10.41 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $6.38, which means a return possibility of 0.63 percent in comparison with the closing price of the stock of $6.34 in recent trading session. The lowest price set for the stock is $6 which is just above -5.36 percent from NYMT share’s price at the end of session.
The stock is lingering around the initial support level of $6.31. After this, the following support is at the zone of $6.29. Up until the time the NYMT stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 54.34 on the daily chart, and this may be a cause for concern. In case the price goes below $6.29 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $6.36 level may cause a pull-back move approaching $6.39 mark.
In the recent trading session, New York Mortgage Trust, Inc. (NASDAQ:NYMT) shares gained 0.08% or 0.01 points to reach at $6.34 with a thin trading volume of 1.427 million shares. It opened the trading session at $6.37, the shares rose to $6.37 and dropped to $6.32, the range by which the price of stock traded the whole session. The company now has a market cap of $2.07 billion and currently has 326.38 million outstanding shares. New York Mortgage Trust, Inc. (NYMT) stock has accumulated 2.1 percent of market value in 21 trading days.
NYMT stock’s trailing 3-year beta is 0.8, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was $0.48 share in the trailing 52 weeks. The stock’s value surged 1.61 percent year to date (YTD) compared to a rise of 0.32 percent in 52 week’s period. The firm’s shares are still trading -2.09 percent below its 1-year high of $6.47 and 7.74 percent up from 52-week low of $5.88. The average consensus ranking on the company is 2.7, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.
New York Mortgage Trust, Inc. (NYMT) shares are trading at a P/E ratio of 13.48 times earnings posted in the trailing 12 months. The industry NYMT deals with has an average P/E of 19.53. Its P/B ratio is standing at 1.16X compared to the 1.35 industry average. It is additionally sporting a 2.34 on the Price-to-Sales ratio, compared to the industry’s P/S average of 0.01. New York Mortgage Trust, Inc. has a 24.2% gross profit margin, with its operating margin around 16.9%. Alongside this, the company’s net profit margin currently stands at 13.5%.
Past records have indicated that shares in New York Mortgage Trust, Inc. declined on 19 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of NYMT’s Q4 earnings on February 25. Analysts are predicting revenue to climb 80.3 percent to $39.44M in the financial fourth quarter, while EPS will soar by about 750 percent to $0.17 per share. In the last quarter, it’s earnings of $0.15 per share came worse than the $0.15667, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $21.87M, missing the $22.65M analysts had expected. Earnings are seen to rise by -7.3 percent this year, 27.81 percent in the coming year and the trend continues by 6.6 percent every year in the next 5 years.