Ellington Credit's stock was downgraded to "sell" despite beating earnings but missing revenue targets.

Ellington Credit (EARN) saw its stock downgraded to "sell" from "hold." Despite beating earnings estimates at $0.36 per share, the company's revenue fell short at $3.90 million. The firm reported a net loss of $0.21 per share but had adjusted earnings of $0.28 per share. As of September, its book value was $6.85 per share, including dividends, and its CLO portfolio grew to $144.5 million.

November 13, 2024
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