Will New York Mortgage Trust Inc (NYMT) Short Squeeze Soon? The Stock Formed a Multiple Bottom

September 17, 2017 - By Stephen Andrade

Investors sentiment increased to 2.03 in Q4 2016. Its up 0.18, from 1.85 in 2016Q3. It increased, as 8 investors sold New York Mortgage Trust Inc shares while 26 reduced holdings. 19 funds opened positions while 50 raised stakes. 34.49 million shares or 17.83% more from 29.27 million shares in 2016Q3 were reported.
Pnc Financial Ser Grp Incorporated holds 740 shares. 4.40M are held by Vanguard Grp Inc. 226,764 are owned by California State Teachers Retirement Systems. Commonwealth Equity Services has invested 0% in New York Mortgage Trust Inc (NASDAQ:NYMT). Susquehanna International Gru Llp accumulated 357,261 shares. First Finance Corporation In invested in 6,500 shares or 0.03% of the stock. Ubs Asset Mngmt Americas Incorporated accumulated 28,786 shares. Glob X Llc invested 0.43% of its portfolio in New York Mortgage Trust Inc (NASDAQ:NYMT). Qs Investors Ltd Limited Liability Company invested 0% in New York Mortgage Trust Inc (NASDAQ:NYMT). Swiss Bankshares holds 0% in New York Mortgage Trust Inc (NASDAQ:NYMT) or 172,920 shares. Sei Invests Co has 0% invested in New York Mortgage Trust Inc (NASDAQ:NYMT) for 13,133 shares. Sterling Capital Management Ltd holds 0.01% or 128,808 shares in its portfolio. Great Lakes Advsr Ltd Liability owns 0.03% invested in New York Mortgage Trust Inc (NASDAQ:NYMT) for 164,163 shares. Wealthtrust Axiom Ltd Liability Com reported 0.13% stake. Wellington Mngmt Gp Ltd Liability Partnership owns 0% invested in New York Mortgage Trust Inc (NASDAQ:NYMT) for 68,158 shares.

The stock of New York Mortgage Trust Inc (NYMT) shows a multiple bottoms pattern with $6.00 target or 6.00 % below today’s $6.38 share price. The 8 months chart pattern indicates high risk for the $703.80 million company. It was reported on Sep, 17 by Finviz.com. If the $6.00 price target is reached, the company will be worth $42.23 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 1.43% or $0.09 on September 15, reaching $6.38. About 2.39M shares traded or 222.44% up from the average. New York Mortgage Trust Inc (NASDAQ:NYMT) has risen 9.11% since September 17, 2016 and is uptrending. It has underperformed by 7.59% the S&P500.

Analysts expect New York Mortgage Trust Inc (NASDAQ:NYMT) to report $0.14 EPS on November, 7.They anticipate $0.04 EPS change or 22.22 % from last quarter’s $0.18 EPS. NYMT’s profit would be $15.44 million giving it 11.39 P/E if the $0.14 EPS is correct. After having $0.10 EPS previously, New York Mortgage Trust Inc’s analysts see 40.00 % EPS growth.

New York Mortgage Trust Inc (NASDAQ:NYMT) Ratings Coverage

Among 7 analysts covering New York Mortgage Trust (NASDAQ:NYMT), 1 have Buy rating, 0 Sell and 6 Hold. Therefore 14% are positive. New York Mortgage Trust had 14 analyst reports since August 6, 2015 according to SRatingsIntel. The firm has “Hold” rating by Zacks given on Tuesday, August 11. The rating was initiated by FBR Capital on Monday, October 10 with “Mkt Perform”. Barclays Capital maintained the shares of NYMT in report on Tuesday, August 11 with “Equal Weight” rating. The firm has “Market Perform” rating given on Tuesday, August 9 by Wood. The rating was maintained by Deutsche Bank on Thursday, February 25 with “Hold”. The firm has “Buy” rating given on Friday, August 4 by Maxim Group. The rating was maintained by Maxim Group with “Buy” on Monday, November 9. The stock of New York Mortgage Trust Inc (NASDAQ:NYMT) has “Buy” rating given on Thursday, February 25 by Maxim Group. Maxim Group maintained New York Mortgage Trust Inc (NASDAQ:NYMT) on Monday, December 19 with “Buy” rating. The rating was maintained by Barclays Capital with “Equal Weight” on Tuesday, November 10.

More notable recent New York Mortgage Trust Inc (NASDAQ:NYMT) news were published by: Seekingalpha.com which released: “New York Mortgage Trust: Unjustifiable” on February 23, 2017, also Seekingalpha.com with their article: “New York Mortgage Trust: There Is No Justification” published on August 04, 2017, Seekingalpha.com published: “New York Mortgage Trust Issues New Bonds – We’ve Seen This Story Before” on February 16, 2017. More interesting news about New York Mortgage Trust Inc (NASDAQ:NYMT) were released by: Globenewswire.com and their article: “New York Mortgage Trust 2017 First Quarter Conference Call Scheduled for …” published on April 21, 2017 as well as Seekingalpha.com‘s news article titled: “New York Mortgage Trust: Get Out” with publication date: March 17, 2017.

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