As this happened, Raymond James initiated its Baytex Energy Corp [BTE] rating to a Mkt perform in a research note published recently. National Bank Financial also remained covering BTE and has increased its forecast on November 03, 2023 with a “an Outperform” recommendation from previously “Sector perform” rating. BMO Capital Markets revised its rating on September 29, 2023. It rated BTE as “an Outperform” which previously was an “a Market perform”.
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Price Performance Review of BTE
On Tuesday, Baytex Energy Corp [NYSE:BTE] saw its stock fall -1.56% to $2.52. Over the last five days, the stock has lost -10.95%. Baytex Energy Corp shares have fallen nearly -24.10% since the year began. Nevertheless, the stocks have fallen -23.17% over the past one year. While a 52-week high of $4.08 was reached on 04/05/24, a 52-week low of $2.55 was recorded on 12/10/24. SMA at 50 days reached $2.96, while 200 days put it at $3.34.
Levels Of Support And Resistance For BTE Stock
The 24-hour chart illustrates a support level at 2.49, which if violated will result in even more drops to 2.47. On the upside, there is a resistance level at 2.56. A further resistance level may holdings at 2.61. The Relative Strength Index (RSI) on the 14-day chart is 27.40, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.28%. Stochastics %K at 2.45% indicates the stock is a buying.
How much short interest is there in Baytex Energy Corp?
A steep rise in short interest was recorded in Baytex Energy Corp stocks on 2024-11-29, dropping by -10.41 million shares to a total of 48.26 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 58.67 million shares. There was a decline of -21.56%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on July 21, 2023 when Canaccord Genuity began covering the stock and recommended ‘”a Buy”‘ rating .
