The stock of Chimera Investment Corporation (NYSE:CIM) is now priced at $8.93 and the shares are 0.01 points up or 0.11% higher compared to its previous closing price of $8.92. The stock had 3.565 million contracts set over the past session. CIM shares’ daily volume is compared to its average trading volume at 5.185 million shares. However, it has a float of 149 million and although its performance was -0.22% over the week, it’s one to watch. Analysts have given the CIM stock a yearly average price target of $9.63 per share. It means the stock’s upside potential is 7.84% with the CIM share price recently placing at $8.57 to $8.93.
The shorts are running away from the Chimera Investment Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CIM shares have declined. Short interest in the stock represents just 5.36% of its float, but the volume has dropped by 0.
In the last trading session, Chimera Investment Corporation (NYSE:CIM) raised by $0.06 over the week and gained $0.01 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $22.99. The stock recorded its established 52-week high on 02/20/20.
Since 03/18/20, the stock has traded to a low of $6.42 at 39.1%, 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 0.94. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Chimera Investment Corporation’s two-week RSI is 46.39. This suggests that the stock is neutral at the moment and that CIM shares’ price movement remains stable. The stochastic readings are equally revealing at 56.4% meaning the CIM share price is currently in neutral territory.
The technical chart shows that the CIM stock will likely settle at between $9.04 and $9.17 per share. However, if the stock dips below $8.68, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.45.
Currently, the stock is trading in the green of MACD, with a reading of 0.01. 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 Maxim Group assigned CIM a rating of Outperform in their intiating review released on October 03. Credit Suisse analysts downgraded their recommendation of the stock from Outperform to Neutral while keeping its target price at $19.5 in a flash note released to investors on August 21. Nomura analysts see the stock as Buy when the analysts initiated the share price coverage on March 27.
The average rating for the CIM equity is 2.67 and is currently gathering a bullish momentum. Of 5 analysts tracking Chimera Investment Corporation polled by Reuters, 4 rated CIM as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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 CIM stock price is 7.35X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Chimera Investment Corporation (NYSE:CIM) will decrease by about -99.96%, which will see them reach $109.25 million. The company’s full-year revenues are, however, expected to diminish by about -20.62%, down from $602.3 million to $478.09 million. CIM’s expected adjusted earnings should drop almost -44% to end up at $0.28 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -36.16% to record $1.43/share.