The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Gates Industrial Corporation plc shares valued at $317,962 were purchased by BX Gates ML-5 Holdco LLC on Nov 25 ’24. At $21.39 per share, BX Gates ML-5 Holdco LLC acquired 14,865 shares.
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Also, BX Gates ML-4 Holdco LLC purchased 64,602 shares, netting a total of over 1,381,837 in proceeds.
Before that, BX Gates ML-3 Holdco LLC had added 1,030 shares to its account. In a trade valued at $22,032, the insider bought Gates Industrial Corporation plc shares for $21.39 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 surge of approximately 4.88%. Over the course of the year, Gates Industrial Corporation plc shares have jumped approximately 64.83%. Shares of the company reached a 52-week high of $22.43 on 11/27/24 and a 52-week low of $12.40 on 02/08/24. A 50-day SMA is recorded $19.16, while a 200-day SMA reached $17.32. Nevertheless, trading volume fell to 1.94 million shares from 3.31 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 21.99, which, if violated, would cause prices to drop to 21.86. In the upper region, resistance lies at 22.34. The next price resistance is at 22.57. RSI (Relative Strength Index) is 75.91 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.81, which suggests the price will decrease in the coming days. Percent R is at 15.67%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.