PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Gap Down Following Analyst Downgrade

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report)'s share price gapped down before the market opened on Wednesday after Piper Sandler lowered their price target on the stock from $15.00 to $14.50. The stock had previously closed at $14.47, but opened at $13.87. Piper Sandler currently has a neutral rating on the stock. PennyMac Mortgage Investment Trust shares last traded at $13.69, with a volume of 362,486 shares traded. Get PMT alerts:PMT has been the topic of several other reports. Keefe, Bruyette & Woods upgraded shares of PennyMac Mortgage Investment Trust from a "market perform" rating to an "outperform" rating and increased their price target for the company from $15.00 to $15.50 in a research note on Wednesday, July 10th. Wedbush reiterated a "neutral" rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. Finally, JMP Securities raised their price target on PennyMac Mortgage Investment Trus...