Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Garrett Motion Inc shares valued at $2,717,286 were sold by CYRUS CAPITAL PARTNERS, L.P. on Apr 09 ’24. At $9.99 per share, CYRUS CAPITAL PARTNERS, L.P. sold 271,889 shares. The insider’s holdings dropped to 27,341,177 shares worth approximately $269.31 million following the completion of this transaction.
Also, CYRUS CAPITAL PARTNERS, L.P. sold 58,306 shares, netting a total of over 580,634 in proceeds. Following the sale of shares at $9.96 each, the insider now holds 27,613,066 shares.
Before that, CYRUS CAPITAL PARTNERS, L.P. had sold 163,027 shares from its account. In a trade valued at $1,631,004, the 10% Owner traded Garrett Motion Inc shares for $10.00 each. Upon closing the transaction, the insider’s holdings decreased to 163,027 shares, worth approximately $272.56 million.
As published in their initiating research note from BWS Financial on June 03, 2021, Garrett Motion Inc [GTX] has been a Buy and the price target has been revised to $15.
Analyzing GTX Stock Performance
During the last five days, there has been a surge of approximately 7.77%. Over the course of the year, Garrett Motion Inc shares have jumped approximately 1.86%. Shares of the company reached a 52-week high of $10.16 on 03/25/24 and a 52-week low of $8.06 on 02/06/24. A 50-day SMA is recorded $9.58, while a 200-day SMA reached $8.34. Nevertheless, trading volume fell to 0.7 million shares from 0.62 million shares the previous day.
Support And Resistance Levels for Garrett Motion Inc (GTX)
According to the 24-hour chart, there is a support level at 9.77, which, if violated, would cause prices to drop to 9.68. In the upper region, resistance lies at 9.92. The next price resistance is at 9.98. RSI (Relative Strength Index) is 57.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.12, which suggests the price will decrease in the coming days. Percent R is at 21.31%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
