The stock of MFA Financial, Inc. (NYSE:MFA) is now priced at $2.82 and the shares are 0.07 points up or 2.55% higher compared to its previous closing price of $2.75. The stock had 9.153 million contracts set over the past session. MFA shares’ daily volume is compared to its average trading volume at 21 million shares. However, it has a float of 451 million and although its performance was 7.22% over the week, it’s one to watch. Analysts have given the MFA stock a yearly average price target of $4.25 per share. It means the stock’s upside potential is 50.71% with the MFA share price recently placing at $2.66 to $2.84. However, some brokerage firms have priced the stock below the average, including one that has called $2.75.
The shorts are running away from the MFA Financial, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the MFA shares have declined. Short interest in the stock represents just 5.22% of its float, but the volume has dropped by 0.
In the last trading session, MFA Financial, Inc. (NYSE:MFA) raised by $0.19 over the week and gained $0.34 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $8.09. The stock recorded its established 52-week high on 02/20/20.
Since 03/24/20, the stock has traded to a low of $0.32 at 781.25%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.57. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, MFA Financial, Inc.’s two-week RSI is 59.3. This suggests that the stock is neutral at the moment and that MFA shares’ price movement remains stable. The stochastic readings are equally revealing at 76.99% meaning the MFA share price is currently in oversold territory.
The technical chart shows that the MFA stock will likely settle at between $2.89 and $2.95 per share. However, if the stock dips below $2.71, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.59.
Currently, the stock is trading in the green of MACD, with a reading of 0.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at JMP Securities cut their recommendation for MFA from Mkt Outperform to Mkt Perform in April 13 review. Wedbush analysts downgraded their recommendation of the stock from Outperform to Neutral in a flash note released to investors on March 25. RBC Capital Mkts seeing the stock struggling downgraded it from Outperform to Sector Perform on March 25 placing it at $8.50 to $1.
The average rating for the MFA equity is 3 and is currently gathering a bullish momentum. Of 7 analysts tracking MFA Financial, Inc. polled by Reuters, 7 rated MFA as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the MFA stock price is 8.1X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for MFA Financial, Inc. (NYSE:MFA) will decrease by about -99.97%, which will see them reach $42.23 million. The company’s full-year revenues are, however, expected to diminish by about -20.53%, down from $249.37 million to $198.17 million. MFA’s expected adjusted earnings should drop almost -70% to end up at $0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -307.59% to record -$1.64/share.