Ellington Credit (NYSE:EARN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Ellington Credit Company (NYSE:EARN)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.82 and traded as low as $4.32. Ellington Credit shares last traded at $4.3250, with a volume of 677,557 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EARN shares. Wall Street Zen raised shares of Ellington Credit from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Piper Sandler cut their price target on Ellington Credit from $5.25 to $5.00 and set an “overweight” rating for the company in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ellington Credit presently has an average rating of “Moderate Buy” and an average price target of $5.50.

Ellington Credit Price Performance

The business’s fifty day moving average price is $4.58 and its 200-day moving average price is $4.82. The stock has a market capitalization of $162.53 million, a PE ratio of -4.16 and a beta of 1.27.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings data on Wednesday, May 20th. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). The company had revenue of $9.87 million for the quarter, compared to the consensus estimate of $10.57 million.

Ellington Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, July 31st will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 22.2%. The ex-dividend date is Friday, July 31st. Ellington Credit’s payout ratio is -92.31%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EARN. Millennium Management LLC raised its position in shares of Ellington Credit by 485.8% in the first quarter. Millennium Management LLC now owns 932,326 shares of the real estate investment trust’s stock worth $5,044,000 after buying an additional 773,169 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Ellington Credit by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust’s stock worth $686,000 after buying an additional 45,845 shares in the last quarter. Jane Street Group LLC grew its position in Ellington Credit by 415.4% during the first quarter. Jane Street Group LLC now owns 379,906 shares of the real estate investment trust’s stock worth $2,055,000 after buying an additional 306,192 shares in the last quarter. Engineers Gate Manager LP bought a new position in Ellington Credit in the 2nd quarter worth about $83,000. Finally, Vident Advisory LLC increased its stake in Ellington Credit by 109.1% in the 2nd quarter. Vident Advisory LLC now owns 36,350 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 18,967 shares during the last quarter. Institutional investors own 20.40% of the company’s stock.

Ellington Credit Company Profile

Ellington Credit Income Fund (NYSE: EARN) is a closed-end management investment company that seeks to generate current income through a diversified portfolio of mortgage- and asset-backed securities. The fund primarily invests in residential mortgage-backed securities (RMBS) and asset-backed securities (ABS), with additional exposure to commercial mortgage-backed securities (CMBS) and related structured credit instruments. To enhance income and manage risk, the fund employs leverage and derivative strategies such as interest rate swaps and credit default swaps, allowing it to adjust duration and credit exposure dynamically.

The fund is externally managed and advised by Ellington Management Group, LLC, an established investment firm specializing in mortgage credit and structured products.