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Ellington Financial (EFC) will continue to rise upon good news

Ellington Financial (EFC) currently trades at $8.83 and has grown by 68.20% today. EFC last night reported March 31 book value per share of $15.08 – that’s “only” a 17.5% decline in book value for March. The monthly dividend is naturally cut, but by less than 50% to $0.08 from $0.15. All margin calls were met, and leverage has been strategically lowered. “We believe that the opportunities for future returns are strong given the significant repricing across most of our targeted asset classes.” said CEO Laurence Penn.

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Based on this information, investorsQ rates this stock 5 out of 10. We give it this rating based on current information written in this article. The high forecast for Ellington Financial is $20.00 and the low is $5.00. Notably, the company’s market cap is $385.79 million with a 52 week high of $19.12 and a 52 week low of $3.24. EFC went up to $3.56 from the previous closing price of $5.21. EFC has changed in price by -9.48 per share in the last 12 months.

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About EFC:

Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.

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