Gates Industrial Corporation plc’s recently made public 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.
Barclays upgraded its Gates Industrial Corporation plc [GTES] rating to an Overweight from a an Equal weight in a research note published on December 05, 2024; the price target was increased to $25 from $21. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early September with a ‘”an Equal-weight”‘ rating. RBC Capital Mkts also remained covering GTES and has increased its forecast on August 19, 2024 with a “an Outperform” recommendation from previously “Sector perform” rating. Wolfe Research revised its rating on March 08, 2024. It rated GTES as “an Outperform” which previously was an “a Peer perform”.
Price Performance Review of GTES
On Monday, Gates Industrial Corporation plc [NYSE:GTES] saw its stock fall -1.19% to $22.37. Over the last five days, the stock has gained 0.40%. Gates Industrial Corporation plc shares have risen nearly 66.69% since the year began. Nevertheless, the stocks have risen 82.61% over the past one year. While a 52-week high of $23.34 was reached on 12/05/24, a 52-week low of $11.22 was recorded on 02/08/24. SMA at 50 days reached $19.82, while 200 days put it at $17.62.
Levels Of Support And Resistance For GTES Stock
The 24-hour chart illustrates a support level at 22.13, which if violated will result in even more drops to 21.89. On the upside, there is a resistance level at 22.83. A further resistance level may holdings at 23.28. The Relative Strength Index (RSI) on the 14-day chart is 67.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.45%. Stochastics %K at 73.80% 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 2024-11-15, dropping by 41470.0 shares to a total of 8.77 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 8.81 million shares. There was a decline of -0.47%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on February 29, 2024 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $21 price target.
