As published in a research note from Exane BNP Paribas on January 30, 2023, The Goodyear Tire & Rubber Company [GT] has been rated down from a Neutral to an Underperform. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late November. As of July 18, 2022, Deutsche Bank has decreased its “Buy” rating to a “Hold” for GT. Earlier on May 10, 2022, Nomura upgraded its rating. Their new recommendation was “a Buy” for GT stock which previously was a “a Neutral”.
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Analyzing GT Stock Performance
The stock’s lowest price that day was $11.17, but it reached a high of $11.42 in the same session. During the last five days, there has been a drop of approximately -4.40%. Over the course of the year, The Goodyear Tire & Rubber Company shares have jumped approximately 11.33%. Shares of the company reached a 52-week high of $12.04 on 02/02/23 and a 52-week low of $10.18 on 01/03/23. A 50-day SMA is recorded $11.02, while a 200-day SMA reached $11.75. Nevertheless, trading volume fell to 2.81 million shares from 3.87 million shares the previous day.
Support And Resistance Levels for The Goodyear Tire & Rubber Company (GT)
According to the 24-hour chart, there is a support level at 11.17, which, if violated, would cause prices to drop to 11.05. In the upper region, resistance lies at 11.42. The next price resistance is at 11.55. RSI (Relative Strength Index) is 50.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.10, which suggests the price will decrease in the coming days. Percent R is at 43.29%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is The Goodyear Tire & Rubber Company subject to short interest?
Stocks of The Goodyear Tire & Rubber Company saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.82 million shares to 12.64 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 13.46 million shares. A decline of -6.49% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.35 of the overall float, the days-to-cover ratio (short ratio) decline to 3.35.
Which companies own the most shares of The Goodyear Tire & Rubber Company (GT)?
According to BlackRock Fund Advisors filings, the company currently owns 30,085,521 shares, which is about 10.64% of the total GT shares outstanding. The investor’s shares have appreciated by 150,239 from its previous 13-F filing of 29935282.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $316,206,225. AllianceBernstein LP reduced a -11.34% interest valued at $202.5 million while Dimensional Fund Advisors LP purchased a 1,207,636 stake. A total of 205,411 shares of The Goodyear Tire & Rubber Company were bought by SSgA Funds Management, Inc. during the quarter, and -357,213 were sold by LSV Asset Management. In its current portfolio, Geode Capital Management LLC holds 5,347,526 shares valued at $60.16 million.