Goodyear Tire & Rubber Co.’s recently made public that its EVP & Chief Admin. Officer WELLS DARREN R unloaded Company’s shares for reported $0.1 million on Feb 28 ’24. In the deal valued at $11.82 per share,8,509 shares were sold. As a result of this transaction, WELLS DARREN R now holds 150,441 shares worth roughly $1.98 million.
Then, WELLS DARREN R sold 237 shares, generating $2,845 in total proceeds. Upon selling the shares at $12.01, the EVP & Chief Admin. Officer now owns 150,441 shares.
Before that, WELLS DARREN R sold 10,574 shares. Goodyear Tire & Rubber Co. shares valued at $131,034 were divested by the EVP & Chief Admin. Officer at a price of $12.39 per share. As a result of the transaction, WELLS DARREN R now holds 122,158 shares, worth roughly $1.6 million.
HSBC Securities initiated its Goodyear Tire & Rubber Co. [GT] rating to a Buy in a research note published on December 04, 2023; the price target was $16.80. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who increased its forecast for the stock in mid November from “a Hold” to “a Buy”. Nomura also remained covering GT and has decreased its forecast on May 17, 2023 with a “Neutral” recommendation from previously “Buy” rating. Exane BNP Paribas revised its rating on May 15, 2023. It rated GT as “a Neutral” which previously was an “an Underperform”.
Price Performance Review of GT
On Monday, Goodyear Tire & Rubber Co. [NASDAQ:GT] saw its stock jump 1.39% to $13.13. Over the last five days, the stock has lost -3.10%. Goodyear Tire & Rubber Co. shares have fallen nearly -8.31% since the year began. Nevertheless, the stocks have risen 27.48% over the past one year. While a 52-week high of $16.50 was reached on 01/26/24, a 52-week low of $10.12 was recorded on 02/14/24. SMA at 50 days reached $12.89, while 200 days put it at $13.33. A total of 1.55 million shares were traded, compared to the trading of 0.41 million shares in the previous session.
Levels Of Support And Resistance For GT Stock
The 24-hour chart illustrates a support level at 13.01, which if violated will result in even more drops to 12.89. On the upside, there is a resistance level at 13.28. A further resistance level may holdings at 13.43. The Relative Strength Index (RSI) on the 14-day chart is 53.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.05%. Stochastics %K at 47.00% indicates the stock is a holding.
How much short interest is there in Goodyear Tire & Rubber Co.?
A steep rise in short interest was recorded in Goodyear Tire & Rubber Co. stocks on Mar 15, 2024, growing by 2.74 million shares to a total of 16.92 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 14.18 million shares. There was a rise of 16.19%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.79% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.71.
