Short Interest in Ellington Credit Company (NYSE:EARN) Increases By 71.0%

Ellington Credit Company (NYSE:EARN) saw a substantial 71.0% increase in short interest during July, reaching 1.25 million shares by July 31st, representing 3.4% of outstanding shares and a 2.7-day 'days-to-cover' ratio. The company reported lower-than-expected Q2 earnings of $0.15 per share and revenue of $6.08 million, missing consensus estimates. Despite this, analysts maintain a "Moderate Buy" rating with a $5.50 consensus price target, and the company declared a monthly dividend of $0.08, indicating a 21.8% annualized yield.