REV Group Inc’s filing revealed 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 $ 46.73 million.
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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.
Morgan Stanley initiated its REV Group Inc [REVG] rating to an Equal-weight in a research note published on June 11, 2024; the price target was $29.50. A number of analysts have revised their coverage, including DA Davidson’s analysts, who increased its forecast for the stock in late September from “a Neutral” to “a Buy”. Robert W. Baird also remained covering REVG and has increased its forecast on March 06, 2023 with a “an Outperform” recommendation from previously “Neutral” rating. DA Davidson started covering the stock on June 29, 2022. It rated REVG as “a Neutral”.
Price Performance Review of REVG
On Monday, REV Group Inc [NYSE:REVG] saw its stock jump 6.01% to $26.44. Over the last five days, the stock has lost -16.96%. REV Group Inc shares have risen nearly 71.89% since the year began. Nevertheless, the stocks have risen 143.63% over the past one year. While a 52-week high of $31.85 was reached on 08/30/24, a 52-week low of $10.76 was recorded on 02/14/24. SMA at 50 days reached $27.38, while 200 days put it at $22.46.
Levels Of Support And Resistance For REVG Stock
The 24-hour chart illustrates a support level at 25.43, which if violated will result in even more drops to 24.43. On the upside, there is a resistance level at 27.01. A further resistance level may holdings at 27.59. The Relative Strength Index (RSI) on the 14-day chart is 42.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.47%. Stochastics %K at 41.00% indicates the stock is a holding.
How much short interest is there in REV Group Inc?
A steep rise in short interest was recorded in REV Group Inc stocks on 2024-08-15, growing by 0.1 million shares to a total of 3.08 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 2.98 million shares. There was a rise of 3.34%, which implies that there is a positive sentiment for the stock.
