Granite Point Mortgage Trust (GPMT) shares rose in March, can this continue?

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Lately has definitely been a great time to invest in Granite Point Mortgage Trust Inc. GPMT… The stock is up 10.2% in the past month, with it also surpassing its 20-day SMA. This combination of strong price performance and favorable technical performance could indicate that the stock may be on the right track.

We definitely think this may be the case, especially given the recent GPMT efforts to revise its earnings estimate. From this point of view, the future of the company is very favorable; as GPMT has earned itself a # 1 Zacks rating (strong buy), which means that its recent rally could last a little longer, and not the best result for the company that is focusing. You can see See the full list of today’s Zacks # 1 Rank stocks here

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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.

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