Taking this into account, A number of analysts have revised their coverage, including National Bank Financial’s analysts, who increased its forecast for the stock in early November from “a Sector perform” to “an Outperform”. BMO Capital Markets also remained covering BTE and has increased its forecast on September 29, 2023 with a “an Outperform” recommendation from previously “Market perform” rating. Canaccord Genuity started covering the stock on July 21, 2023. It rated BTE as “a Buy”.
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Price Performance Review of BTE
On Tuesday, Baytex Energy Corp [NYSE:BTE] saw its stock fall -4.15% to $3.00. Over the last five days, the stock has lost -6.83%. Baytex Energy Corp shares have fallen nearly -9.64% since the year began. Nevertheless, the stocks have fallen -31.03% over the past one year. While a 52-week high of $4.65 was reached on 04/05/24, a 52-week low of $2.85 was recorded on 09/26/24. SMA at 50 days reached $3.27, while 200 days put it at $3.40.
Levels Of Support And Resistance For BTE Stock
The 24-hour chart illustrates a support level at 2.97, which if violated will result in even more drops to 2.94. On the upside, there is a resistance level at 3.03. A further resistance level may holdings at 3.06. The Relative Strength Index (RSI) on the 14-day chart is 40.65, 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 bearish at 75.00%. Stochastics %K at 44.44% indicates the stock is a holding.
How much short interest is there in Baytex Energy Corp?
A steep rise in short interest was recorded in Baytex Energy Corp stocks on 2024-09-30, growing by 17.7 million shares to a total of 55.89 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 38.19 million shares. There was a rise of 31.67%, which implies that there is a positive sentiment for the stock.
