Redwood Trust Inc. (NYSE:RWT) price on Thursday, March 28, rose 1.91% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $6.39.
A look at the stock’s price movement, the level at last check in today’s session was $6.27. The beta value (5-Year monthly) was 1.52. Turning to its 52-week performance, $8.30 and $5.47 were the 52-week high and 52-week low respectively. Overall, RWT moved 5.62% over the past month.
Redwood Trust Inc.’s market cap currently stands at around $840.80 million, with investors looking forward to this quarter’s earnings report slated for Apr 25, 2024 – Apr 29, 2024. The company has a Forward Dividend ratio of 0.64, with its dividend yield at 10.02%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.12, which has seen fiscal year 2024 EPS growth forecast to increase to $0.56 and about $0.69 for fiscal year 2025. Per the data, EPS growth is expected to be 36.60% for 2024 and 23.20% for the next financial year.
Analysts have a consensus estimate of $24.05 million for the company’s revenue for the quarter, with a low and high estimate of $21 million and $27.3 million respectively. The average forecast suggests down to a -37.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2024 to grow to $108.39 million, representing a 16.50% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that RWT is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
RWT’s current price about 4.00% and -0.58% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.15, while 7-day volatility ratio is 2.70% and 2.68% in the 30-day chart. Further, Redwood Trust Inc. (RWT) has a beta value of 1.51, and an average true range (ATR) of 0.19.
If we refocus on Redwood Trust Inc. (NYSE:RWT), historical trading data shows that trading volumes averaged 2.75 million over the past 10 days and 1.49 million over the past 3 months. The company’s latest data on shares outstanding shows there are 131.49 million shares.
The 1.01% of Redwood Trust Inc.’s shares are in the hands of company insiders while institutional holders own 76.90% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.86 million on Mar 15, 2024, giving us a short ratio of 2.44. The data shows that as of Mar 15, 2024 short interest in Redwood Trust Inc. (RWT) stood at 3.70% of shares outstanding, with shares short rising to 4.43 million registered in Feb 15, 2024. Current price change has pushed the stock -13.77% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RWT stock continues to rise going into the next quarter.
