The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Genpact Ltd shares valued at $66,910 were sold by Klunk Donald J on Feb 15 ’24. At $36.27 per share, Klunk Donald J sold 1,845 shares. The insider’s holdings dropped to 6,922 shares worth approximately $0.22 million following the completion of this transaction.
Also, White Heather sold 11,450 shares, netting a total of over 412,200 in proceeds. Following the sale of shares at $36.00 each, the insider now holds 21,175 shares.
Before that, Stein Kathryn Vanpelt had sold 57,336 shares from its account. In a trade valued at $1,998,149, the Senior Vice President traded Genpact Ltd shares for $34.85 each. Upon closing the transaction, the insider’s holdings decreased to 57,336 shares, worth approximately $2.74 million.
As published in their initiating research note from Mizuho on January 30, 2024, Genpact Ltd [G] has been a Neutral and the price target has been revised to $40. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of August 22, 2023, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for G. Earlier on July 18, 2023, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for G stock which previously was a “a Buy”.
Analyzing G Stock Performance
During the last five days, there has been a drop of approximately -2.44%. Over the course of the year, Genpact Ltd shares have dropped approximately -7.92%. Shares of the company reached a 52-week high of $37.06 on 02/09/24 and a 52-week low of $31.81 on 03/22/24. A 50-day SMA is recorded $34.53, while a 200-day SMA reached $35.48. Nevertheless, trading volume fell to 2.03 million shares from 1.83 million shares the previous day.
Support And Resistance Levels for Genpact Ltd (G)
According to the 24-hour chart, there is a support level at 31.76, which, if violated, would cause prices to drop to 31.57. In the upper region, resistance lies at 32.34. The next price resistance is at 32.73. RSI (Relative Strength Index) is 35.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.62, which suggests the price will decrease in the coming days. Percent R is at 92.75%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Genpact Ltd subject to short interest?
Stocks of Genpact Ltd saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.22 million shares to 3.37 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.15 million shares. A jump of 36.2% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.26 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.26.
