Genesis Energy L.P. (GEL) Becoming More Attractive for Investors


Genesis Energy L.P.’s recently made public that its VP & GM – Refinery Services Rasmussen Jeffrey J acquired Company’s shares for reported $46838.0 on Aug 14. In the deal valued at $9.37 per share,5,000 shares were bought. As a result of this transaction, Rasmussen Jeffrey J now holds 23,500 shares worth roughly $ 0.24 million.

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Then, Flynn Edward T bought 10,000 shares, generating $96,883 in total proceeds. Upon buying the shares at $9.69, the President, Genesis Alkali, LLC now owns 130,000 shares.

Before that, Rainsberger William W bought 2,500 shares. Genesis Energy L.P. shares valued at $24,115 were divested by the SVP – Offshore at a price of $9.65 per share. As a result of the transaction, Rainsberger William W now holds 3,500 shares, worth roughly $36260.0.

PT values the company’s stock at a premium of 30.93 to its Friday closing price.

Price Performance Review of GEL

On Friday, Genesis Energy L.P. [NYSE:GEL] saw its stock jump 4.75% to $10.36. On the same session, the stock had its day’s lowest price of $9.945, but rose to a high of $10.36. Over the last five days, the stock has gained 5.50%. Genesis Energy L.P. shares have risen nearly 1.47% since the year began. Nevertheless, the stocks have fallen -10.54% over the past one year. While a 52-week high of $12.37 was reached on 03/03/23, a 52-week low of $8.05 was recorded on 08/07/23. SMA at 50 days reached $9.55, while 200 days put it at $10.38. A total of 0.48 million shares were traded, compared to the trading of 0.31 million shares in the previous session.

Levels Of Support And Resistance For GEL Stock

The 24-hour chart illustrates a support level at 10.08, which if violated will result in even more drops to 9.81. On the upside, there is a resistance level at 10.50. A further resistance level may holdings at 10.64. The Relative Strength Index (RSI) on the 14-day chart is 62.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 0.00%. Stochastics %K at 90.29% indicates the stock is a selling.

How much short interest is there in Genesis Energy L.P.?

A steep rise in short interest was recorded in Genesis Energy L.P. stocks on Aug 14, 2023, growing by 0.3 million shares to a total of 1.94 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.64 million shares. There was a rise of 15.46%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.55% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.49.

According to FactSet, Genesis Energy L.P.’s share price will average $12.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 31.45 percent from its previous closing price of $9.89. Analysts expect Genesis Energy L.P. stock to reach the higher price of $14.00, while the lowest price estimate is $11.00. However, 3 analysts have rated GEL stock as an Overweight in their predictions for 2023.


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