Ambac Financial hits record low after bigger-than-expected quarterly loss

Shares of property and casualty insurer Ambac Financial AMBC.N plunge as much as 28.3%; hitting their record low

Stock last down 20.4% at $6.65

AMBC late Monday reported bigger-than-expected Q1 loss, missing Wall Street expectations for the third straight quarter, according to data compiled by LSEG

Roth Capital Partners says estimating earnings for AMBC remains challenging, given all the changes over the past year in its business

Brokerage believes AMBC earnings can improve fairly quickly, as the company grows in the insurance distribution business

Both brokerages covering the stock rate "buy" or higher; with a median PT of $15 - LSEG

As of last close, AMBC stock down 34% YTD