Gates Industrial Corporation plc’s recent filing unveils that its insider BX Gates ML-5 Holdco LLC acquired Company’s shares for reported $0.32 million on Nov 25 ’24. In the deal valued at $21.39 per share,14,865 shares were bought.
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Then, BX Gates ML-4 Holdco LLC bought 64,602 shares, generating $1,381,837 in total proceeds.
Before that, BX Gates ML-3 Holdco LLC bought 1,030 shares. Gates Industrial Corporation plc shares valued at $22,032 were divested by the insider at a price of $21.39 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 2.81% to $21.99. Over the last five days, the stock has gained 5.82%. Gates Industrial Corporation plc shares have risen nearly 63.86% since the year began. Nevertheless, the stocks have risen 81.14% over the past one year. While a 52-week high of $21.54 was reached on 11/22/24, a 52-week low of $11.22 was recorded on 02/08/24. SMA at 50 days reached $18.87, while 200 days put it at $17.18.
Levels Of Support And Resistance For GTES Stock
The 24-hour chart illustrates a support level at 21.52, which if violated will result in even more drops to 21.06. On the upside, there is a resistance level at 22.25. A further resistance level may holdings at 22.52. The Relative Strength Index (RSI) on the 14-day chart is 76.63, which indicates overbought 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 2.22%. Stochastics %K at 90.16% indicates the stock is a selling.
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.
