In a filing, Garrett Motion Inc revealed its 10% Owner CYRUS CAPITAL PARTNERS, L.P. unloaded Company’s shares for reported $1.63 million on Apr 01 ’24. In the deal valued at $10.00 per share,163,027 shares were sold. As a result of this transaction, CYRUS CAPITAL PARTNERS, L.P. now holds 27,671,372 shares worth roughly $271.18 million.
Then, CYRUS CAPITAL PARTNERS, L.P. sold 182,885 shares, generating $1,832,380 in total proceeds. Upon selling the shares at $10.02, the 10% Owner now owns 27,834,399 shares.
Before that, CYRUS CAPITAL PARTNERS, L.P. sold 250,000 shares. Garrett Motion Inc shares valued at $2,502,850 were divested by the 10% Owner at a price of $10.01 per share. As a result of the transaction, CYRUS CAPITAL PARTNERS, L.P. now holds 28,017,284 shares, worth roughly $274.57 million.
BWS Financial initiated its Garrett Motion Inc [GTX] rating to a Buy in a research note published on June 03, 2021; the price target was $15.
Price Performance Review of GTX
On Friday, Garrett Motion Inc [NASDAQ:GTX] saw its stock jump 1.34% to $9.80. Over the last five days, the stock has lost -1.41%. Garrett Motion Inc shares have risen nearly 1.34% since the year began. Nevertheless, the stocks have risen 20.54% over the past one year. While a 52-week high of $10.16 was reached on 03/25/24, a 52-week low of $6.43 was recorded on 02/06/24. SMA at 50 days reached $9.34, while 200 days put it at $8.21. A total of 0.55 million shares were traded, compared to the trading of 0.63 million shares in the previous session.
Levels Of Support And Resistance For GTX Stock
The 24-hour chart illustrates a support level at 9.59, which if violated will result in even more drops to 9.38. On the upside, there is a resistance level at 9.95. A further resistance level may holdings at 10.09. The Relative Strength Index (RSI) on the 14-day chart is 54.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.32%. Stochastics %K at 47.95% indicates the stock is a holding.
How much short interest is there in Garrett Motion Inc?
A steep rise in short interest was recorded in Garrett Motion Inc stocks on Mar 15, 2024, growing by 1.07 million shares to a total of 5.48 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.41 million shares. There was a rise of 19.53%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.60% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.01.
