Top 3 Financials Stocks That May Jump This Quarter
Portfolio Pulse from Avi Kapoor
The article highlights three oversold financial stocks with potential for short-term gains: Apollo Commercial Real Estate Finance Inc (ARI), Ready Capital Corp (RC), and Ellington Financial Inc (EFC). These stocks have RSI values near or below 30, indicating they are oversold. ARI posted strong earnings but saw a 13% decline in stock price over the past month. RC had its price target lowered by Piper Sandler, with a 7% decline in stock price. EFC reported weaker-than-expected earnings, with a 5% decline in stock price.
October 07, 2024 | 10:42 am
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NEUTRAL IMPACT
Ellington Financial Inc (EFC) is oversold with an RSI of 29.38. The company reported weaker-than-expected earnings, and the stock fell 5% over the past month, closing at $12.46.
EFC's RSI indicates it is oversold, but weaker earnings may deter investors from buying. The stock may remain under pressure until better performance is reported.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Ready Capital Corp (RC) is oversold with an RSI of 29.84. Piper Sandler lowered its price target to $8, and the stock fell 7% over the past month, closing at $7.31.
RC's RSI suggests it is oversold, but the lowered price target by Piper Sandler may limit immediate upside potential. Investors may remain cautious.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Apollo Commercial Real Estate Finance Inc (ARI) is oversold with an RSI of 25.60. Despite posting strong earnings, the stock fell 13% over the past month, closing at $8.89.
ARI's RSI indicates it is oversold, suggesting potential for a price rebound. The recent earnings report was positive, which could attract buyers looking for undervalued stocks.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100