Walter Investment Management's stock is up 5.2% to $36.78 on heavy trading volume. About 1.8 million shares have been traded today, as compared to the 30-day average volume of 1.1 million shares. Spikes in volume can validate a breakout or signify a potential turning point.
Walter Investment Management share prices have moved between a 52-week high of $49.99 and a 52-week low of $17.87 and are now trading 106% above that low price at $36.78 per share. The 200-day and 50-day moving averages have moved 0.52% higher and 1.79% lower over the past week, respectively.
Walter Investment Management has overhead space with shares priced $36.78, or 32.6% below the average consensus analyst price target of $54.57. The stock should find resistance at its 50-day moving average (MA) of $44.38, as well as support at its 200-day MA of $36.77.
Walter Investment Management Corporation is a mortgage real estate investment trust. The Company is focused on the purchase and securitization of single family mortgage loan pools and subordinate mortgage-backed securities purchased in bulk directly from financial institutions.