Gates Industrial Corporation plc’s filing revealed that its insider BX Gates ML-3 Holdco LLC acquired Company’s shares for reported $24056.0 on Nov 11 ’24. In the deal valued at $21.27 per share,1,131 shares were bought.
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Then, BX Gates ML-5 Holdco LLC bought 16,341 shares, generating $347,573 in total proceeds.
Before that, BX Gates ML-4 Holdco LLC bought 71,019 shares. Gates Industrial Corporation plc shares valued at $1,510,574 were divested by the insider at a price of $21.27 per share.
Morgan Stanley initiated its Gates Industrial Corporation plc [GTES] rating to an Equal-weight in a research note published on September 06, 2024; the price target was $19. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who increased its forecast for the stock in mid August from “a Sector perform” to “an Outperform”. Wolfe Research also remained covering GTES and has increased its forecast on March 08, 2024 with a “an Outperform” recommendation from previously “Peer perform” rating. Jefferies started covering the stock on February 29, 2024. It rated GTES as “a Buy”.
Price Performance Review of GTES
On Friday, Gates Industrial Corporation plc [NYSE:GTES] saw its stock jump 0.19% to $20.78. Over the last five days, the stock has lost -2.30%. Gates Industrial Corporation plc shares have risen nearly 54.84% since the year began. Nevertheless, the stocks have risen 74.92% over the past one year. While a 52-week high of $21.54 was reached on 11/07/24, a 52-week low of $11.22 was recorded on 02/08/24. SMA at 50 days reached $18.40, while 200 days put it at $16.97.
Levels Of Support And Resistance For GTES Stock
The 24-hour chart illustrates a support level at 20.59, which if violated will result in even more drops to 20.41. On the upside, there is a resistance level at 20.91. A further resistance level may holdings at 21.05. The Relative Strength Index (RSI) on the 14-day chart is 69.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.41, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.09%. Stochastics %K at 76.36% indicates the stock is a holding.
How much short interest is there in Gates Industrial Corporation plc?
A steep rise in short interest was recorded in Gates Industrial Corporation plc stocks on 2024-10-31, growing by 2.57 million shares to a total of 11.26 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 8.69 million shares. There was a rise of 22.83%, which implies that there is a positive sentiment for the stock.
