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Cherry Hill (CHMI) Surges: Stock Moves 8.9% Higher

Zacks Equity Research
·2-min read

Cherry Hill Mortgage Investment Corporation CHMI was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $2.89 –$8.29 in the past one-month time frame, witnessed a sharp increase yesterday.

This move came after the company announced business updates to tackle COVID-19 crisis. It reduced leverage to strengthen balance sheet and improve financial flexibility.

The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Cherry Hill currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

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Cherry Hill Mortgage Investment Corporation Price

Cherry Hill Mortgage Investment Corporation Price
Cherry Hill Mortgage Investment Corporation Price

Cherry Hill Mortgage Investment Corporation price | Cherry Hill Mortgage Investment Corporation Quote

A better-ranked stock in the REIT and Equity Trust industry is Dynex Capital, Inc. DX, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Cherry Hill Mortgage Investment Corporation (CHMI) : Free Stock Analysis Report
 
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Zacks Investment Research