Meanwhile, 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”.
Price Performance Review of BTE
On Tuesday, Baytex Energy Corp [NYSE:BTE] saw its stock jump 1.51% to $2.69. Over the last five days, the stock has gained 9.35%. Baytex Energy Corp shares have risen nearly 4.26% since the year began. Nevertheless, the stocks have fallen -19.22% over the past one year. While a 52-week high of $4.08 was reached on 01/06/25, a 52-week low of $2.19 was recorded on 01/03/25. SMA at 50 days reached $2.74, while 200 days put it at $3.27.
Levels Of Support And Resistance For BTE Stock
The 24-hour chart illustrates a support level at 2.66, which if violated will result in even more drops to 2.62. On the upside, there is a resistance level at 2.72. A further resistance level may holdings at 2.74. The Relative Strength Index (RSI) on the 14-day chart is 57.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.20, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 7.48%. Stochastics %K at 89.16% indicates the stock is a selling.
How much short interest is there in Baytex Energy Corp?
A steep rise in short interest was recorded in Baytex Energy Corp stocks on 2024-12-13, growing by 4.3 million shares to a total of 53.65 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 49.36 million shares. There was a rise of 8.01%, which implies that there is a positive 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 .
