How did CARV's Q3 earnings surprise impact its stock?

Carver Bancorp, Inc. (CARV) experienced a significant decline in its stock following the release of the Q3 earnings report. The company reported a net loss of USD 5.65 million for the third quarter, compared to a net income of USD 0.019 million in the same period a year ago. This marked a substantial deterioration in the company's financial performance, which negatively impacted investor sentiment. The earnings surprise, or the difference between the actual earnings per share (EPS) and the estimated EPS, was not available. However, considering the company's poor financial performance and the net loss, it can be inferred that the actual EPS likely fell short of expectations. This would have contributed to the negative surprise, further depressing the stock price. The stock's performance was already under pressure due to the "sell" ratings assigned by analysts at StockNews.com, which had initiated coverage of CARV's stock. These ratings reflect a lack of confidence in the company's future prospects, which may have led to a decline in investor interest and, consequently, a drop in the stock price. In summary, CARV's Q3 earnings report, with its significant net loss and poor financial performance, likely resulted in a negative earnings surprise. Combined with the bearish analyst ratings, the stock experienced a substantial decline following the earnings release.