A company insider recently bought 20,000 shares of Genesis Energy L.P. [GEL]. Should You Buy?

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ZOM Stock

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Genesis Energy L.P. shares valued at $200,400 were purchased by Flynn Edward T on Sep 26. At $10.02 per share, Flynn Edward T acquired 20,000 shares. The insider’s holdings grew to 120,000 shares worth approximately $1.31 million following the completion of this transaction.

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Also, Davison James E purchased 10,000 shares, netting a total of over 94,762 in proceeds. Following the buying of shares at $9.48 each, the insider now holds 2,707,890 shares.

Before that, Davison James E had added 30,000 shares to its account. In a trade valued at $291,300, the Director bought Genesis Energy L.P. shares for $9.71 each. Upon closing the transaction, the insider’s holdings increased to 30,000 shares, worth approximately $29.35 million.

Analysts at CapitalOne downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late November. As of October 14, 2021, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for GEL. Earlier on October 15, 2020, Barclays upgraded its rating. Their new recommendation was “an Overweight” for GEL stock which previously was a “an Equal weight”.

Analyzing GEL Stock Performance

On Wednesday, Genesis Energy L.P. [NYSE: GEL] plunged -5.14% to $10.88. The stock’s lowest price that day was $10.82, but it reached a high of $11.36 in the same session. During the last five days, there has been a surge of approximately 0.65%. Over the course of the year, Genesis Energy L.P. shares have jumped approximately 1.59%. Shares of the company reached a 52-week high of $13.44 on 03/08/22 and a 52-week low of $7.61 on 06/30/22. A 50-day SMA is recorded $10.86, while a 200-day SMA reached $10.93. Nevertheless, trading volume fell to 1.1 million shares from 0.83 million shares the previous day.

Support And Resistance Levels for Genesis Energy L.P. (GEL)

According to the 24-hour chart, there is a support level at 10.68, which, if violated, would cause prices to drop to 10.48. In the upper region, resistance lies at 11.22. The next price resistance is at 11.56. RSI (Relative Strength Index) is 53.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.63, which suggests the price will decrease in the coming days. Percent R is at 50.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Genesis Energy L.P. subject to short interest?

Stocks of Genesis Energy L.P. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.19 million shares to 5.78 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.97 million shares. A decline of -3.29% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.3 of the overall float, the days-to-cover ratio (short ratio) decline to 8.3.

Which companies own the most shares of Genesis Energy L.P. (GEL)?

According to Fidelity Management & Research Co filings, the company currently owns 16,770,838 shares, which is about 13.69% of the total GEL shares outstanding. The investor’s shares have plunged by -1,849 from its previous 13-F filing of 16772687.0 shares. With the completion of the sale transaction, ALPS Advisors, Inc.’s stake is now worth $146,758,271. Invesco Advisers, Inc. acquire a 3.17% interest valued at $134.69 million while JPMorgan Securities LLC purchased a 40,060 stake. A total of 595,314 shares of Genesis Energy L.P. were bought by Global X Management Co. LLC during the quarter, and -291,719 were sold by Tortoise Capital Advisors LLC. In its current portfolio, RR Advisors LLC holds 4,888,000 shares valued at $44.97 million.


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