Garmin Ltd’s recently made public that its Managing Director, EMEA Biddlecombe Sean unloaded Company’s shares for reported $0.12 million on Nov 07 ’24. In the deal valued at $210.10 per share,587 shares were sold. As a result of this transaction, Biddlecombe Sean now holds 6,147 shares worth roughly $1.31 million.
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Then, Sean Biddlecombe bought 587 shares, generating $123,328 in total proceeds.
Before that, Straub Philip sold 2,750 shares. Garmin Ltd shares valued at $499,023 were divested by the EVP, Man. Director – Aviation at a price of $181.46 per share. As a result of the transaction, Straub Philip now holds 88,622 shares, worth roughly $18.93 million.
Morgan Stanley downgraded its Garmin Ltd [GRMN] rating to an Underweight from a an Equal-weight in a research note published on October 07, 2024; the price target was decreased to $138 from $155. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in mid September from “an Equal weight” to “an Underweight”. BofA Securities also remained covering GRMN and has decreased its forecast on May 22, 2024 with a “an Underperform” recommendation from previously “Neutral” rating. JP Morgan revised its rating on January 08, 2024. It rated GRMN as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of GRMN
On Tuesday, Garmin Ltd [NYSE:GRMN] saw its stock jump 0.48% to $213.58. Over the last five days, the stock has gained 4.58%. Garmin Ltd shares have risen nearly 66.16% since the year began. Nevertheless, the stocks have risen 83.14% over the past one year. While a 52-week high of $214.83 was reached on 11/11/24, a 52-week low of $116.01 was recorded on 02/01/24. SMA at 50 days reached $178.14, while 200 days put it at $161.07.
Levels Of Support And Resistance For GRMN Stock
The 24-hour chart illustrates a support level at 212.34, which if violated will result in even more drops to 211.10. On the upside, there is a resistance level at 214.43. A further resistance level may holdings at 215.28. The Relative Strength Index (RSI) on the 14-day chart is 79.50, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 18.55, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.33%. Stochastics %K at 96.64% indicates the stock is a selling.
How much short interest is there in Garmin Ltd?
A steep rise in short interest was recorded in Garmin Ltd stocks on 2024-10-15, growing by 1.08 million shares to a total of 4.58 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 3.5 million shares. There was a rise of 23.56%, which implies that there is a positive sentiment for the stock.
