Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gates Industrial Corporation plc shares valued at $24,056 were purchased by BX Gates ML-3 Holdco LLC on Nov 11 ’24. At $21.27 per share, BX Gates ML-3 Holdco LLC acquired 1,131 shares.
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Also, BX Gates ML-5 Holdco LLC purchased 16,341 shares, netting a total of over 347,573 in proceeds.
Before that, BX Gates ML-4 Holdco LLC had added 71,019 shares to its account. In a trade valued at $1,510,574, the insider bought Gates Industrial Corporation plc shares for $21.27 each.
As published in their initiating research note from Morgan Stanley on September 06, 2024, Gates Industrial Corporation plc [GTES] has been an Equal-weight and the price target has been revised to $19. Analysts at RBC Capital Mkts upgraded the stock from ‘”a Sector perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid August. As of March 08, 2024, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for GTES. Earlier on February 29, 2024, Jefferies initiated its rating. Their recommendation was “a Buy” for GTES stock.
Analyzing GTES Stock Performance
During the last five days, there has been a drop of approximately -3.23%. Over the course of the year, Gates Industrial Corporation plc shares have jumped approximately 53.95%. Shares of the company reached a 52-week high of $21.54 on 11/07/24 and a 52-week low of $12.40 on 02/08/24. A 50-day SMA is recorded $18.23, while a 200-day SMA reached $16.89. Nevertheless, trading volume fell to 2.81 million shares from 2.32 million shares the previous day.
Support And Resistance Levels for Gates Industrial Corporation plc (GTES)
According to the 24-hour chart, there is a support level at 20.50, which, if violated, would cause prices to drop to 20.34. In the upper region, resistance lies at 20.96. The next price resistance is at 21.26. RSI (Relative Strength Index) is 68.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.92, which suggests the price will decrease in the coming days. Percent R is at 25.58%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
