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 $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 a research note from Barclays on December 05, 2024, Gates Industrial Corporation plc [GTES] has been rated up from an Equal weight to an Overweight and the price target has been revised to $25 from $21. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in early September. As of August 19, 2024, RBC Capital Mkts has increased its “Sector perform” rating to a “an Outperform” for GTES. Earlier on March 08, 2024, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for GTES stock which previously was a “a Peer perform”.
Analyzing GTES Stock Performance
During the last five days, there has been a surge of approximately 3.66%. Over the course of the year, Gates Industrial Corporation plc shares have jumped approximately 70.86%. Shares of the company reached a 52-week high of $23.34 on 12/05/24 and a 52-week low of $12.40 on 02/08/24. A 50-day SMA is recorded $19.63, while a 200-day SMA reached $17.54. Nevertheless, trading volume fell to 3.32 million shares from 3.01 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 22.72, which, if violated, would cause prices to drop to 22.52. In the upper region, resistance lies at 23.24. The next price resistance is at 23.55. RSI (Relative Strength Index) is 81.98 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.71, which suggests the price will decrease in the coming days. Percent R is at 14.64%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
