Two Harbors Investment Corp. (NYSE:TWO) near 52-week low on important volume

Two Harbors Investment Corp. (NYSE:TWO) (TREND ANALYSIS) shares were traded with a significant increase in volume. The stock closed last trading session at $8.46, down by -1.51%, with a volume of 4,012,931 shares against an average volume for the last 3 months of 2,604,020.

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Two Harbors Investment Corp. (NYSE:TWO) stock is currently trading 23.09% below its 52-week-high, 5.75% above its 52-week-low. The 1-year stock price history is in the range of $8 – $11. Two Harbors Investment Corp. (TWO) has a price to earnings ratio of 6.56 versus Financial sector average of 16.18. TWO stock price has underperformed the S&P 500 by 11.4%. The Residential REIT company is currently valued at $3.11 billion and its share price closed the last trading session at $8.46. The stock has a 50-day moving average of $9.07 and a 200-day moving average of $9.9.

Two Harbors Investment Corp. (TWO) current short interest stands at 3.74 million shares. It has increased by 4% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 2.45 million shares, the number of days required to cover the short positions stand at 1.6 days.

The company is expected to announce next quarter earnings on November 04, at consensus estimate of $0.23. Two Harbors Investment Corp. (TWO) reported last quarter earnings on August 04. The Residential REIT company announced earnings per share of $0.22 against a consensus Street estimate of $0.26, missing estimate by $0.04. This corresponds to an increase of $0.02 compared to the same quarter of the previous fiscal year.

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There are currently sixteen analysts that cover Two Harbors Investment Corp. stock. Of those sixteen, twelve have a Buy rating, four have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $10.9.

A recent analyst activity consisted of Nomura who initiated their coverage on the stock with Neutral rating on June 29. Nomura fixed their price target at $10. This corresponds to a 18.2% upside from the last closing price. On the date of report, the stock closed at $9.48.

Wunderlich downgraded their Buy rating to Hold on June 15. On the date of report, the stock closed at $9.8.

Another research firm was Keefe Bruyette & Woods who downgraded their Outperform rating to Market Perform on May 8. On the date of report, the stock closed at $9.95.

Company profile

Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), residential mortgage loans, residential real properties, and other financial assets. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; non-agency RMBS collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM mortgage loans, and subprime mortgage loans; nonconforming residential mortgage loans; and single and multi-family residential properties, as well as asset-backed securities and hedging transactions that produce non-qualifying income for purposes of the REIT gross income tests. The company qualifies as a REIT for federal income tax purposes. As a REIT, the company would not be subject to federal income tax, if it distributes at least 90% of net taxable income to its stockholders. PRCM Advisers LLC operates as the manager of Two Harbors Investment Corp. Two Harbors Investment Corp. was founded in 2007 and is headquartered in Minnetonka, Minnesota.

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