AOMR - Angel Oak Mortgage stock rises after three analysts issue Buy ratings

Angel Oak Mortgage (AOMR) stock gains 2.4% after three analysts initiate coverage with the equivalent of a Buy rating.Wells Fargo initiates coverage with an Overweight rating and sees AOMR's Q1 book value per share as "reasonable given the strong growth opportunity, dividend yield potential, and pure play non-QM platform."Sets price target at $23, or 1.2x premium to Q1 2022 BVPS.AOMR was also rated Outperform at Oppenheimer and Buy at B. Riley.AOMR's total return of -8.4% since its June IPO lagged the S&P 500's 3.7% gain in the past month as seen in the chart below.Wolfe Research started coverage with a Peer Perform rating.The company closed its initial public offering of 7.2M shares on June 21.

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Angel Oak Mortgage stock rises after three analysts issue Buy ratings