REV Group Inc’s recently made public that its No longer a 10% owner. AMERICAN INDUSTRIAL PARTNERS C unloaded Company’s shares for reported $127.57 million on Mar 15 ’24. In the deal valued at $17.25 per share,7,395,191 shares were sold. As a result of this transaction, AMERICAN INDUSTRIAL PARTNERS C now holds 1,767,314 shares worth roughly $41.6 million.
Then, AMERICAN INDUSTRIAL PARTNERS C sold 18,400,000 shares, generating $289,938,000 in total proceeds. Upon selling the shares at $15.76, the 10% Owner now owns 9,162,505 shares.
DA Davidson upgraded its REV Group Inc [REVG] rating to a Buy from a a Neutral in a research note published on September 27, 2023; the price target was increased to $20 from $16. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who increased its forecast for the stock in early March from “a Neutral” to “an Outperform”. DA Davidson began covering REVG with “Neutral” recommendation on June 29, 2022. Robert W. Baird revised its rating on April 08, 2022. It rated REVG as “a Neutral” which previously was an “an Outperform”.
Price Performance Review of REVG
On Friday, REV Group Inc [NYSE:REVG] saw its stock jump 2.21% to $23.54. Over the last five days, the stock has gained 6.56%. REV Group Inc shares have risen nearly 53.04% since the year began. Nevertheless, the stocks have risen 141.38% over the past one year. While a 52-week high of $23.58 was reached on 04/05/24, a 52-week low of $8.34 was recorded on 02/14/24. SMA at 50 days reached $19.53, while 200 days put it at $16.14. A total of 1.48 million shares were traded, compared to the trading of 0.6 million shares in the previous session.
Levels Of Support And Resistance For REVG Stock
The 24-hour chart illustrates a support level at 23.17, which if violated will result in even more drops to 22.80. On the upside, there is a resistance level at 23.88. A further resistance level may holdings at 24.22. The Relative Strength Index (RSI) on the 14-day chart is 79.47, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.43, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.42%. Stochastics %K at 93.72% indicates the stock is a selling.
How much short interest is there in REV Group Inc?
A steep rise in short interest was recorded in REV Group Inc stocks on Mar 15, 2024, growing by 70000.0 shares to a total of 1.46 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.39 million shares. There was a rise of 4.79%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.28% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.06.
The most recent change occurred on June 16, 2021 when Credit Suisse resumed its ‘”an Underperform”‘ rating for the stock and retained the price target to $13.
