The stock of Garrett Motion Inc. (NYSE:GTX) is now priced at $4.89 and the shares are -0.35 points down or -6.58% lower compared to its previous closing price of $5.24. The stock had 590326 contracts set over the past session. GTX shares’ daily volume is compared to its average trading volume at 827008 shares. However, it has a float of 74.87 million and although its performance was -5.42% over the week, it’s one to watch. Analysts have given the GTX stock a yearly average price target of $5.5 per share. It means the stock’s upside potential is 12.47% with the GTX share price recently placing at $4.85 to $5.25. However, some brokerage firms have priced the stock below the average, including one that has called $2.
The shorts are running away from the Garrett Motion Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the GTX shares have declined. Short interest in the stock represents just 2.62% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Garrett Motion Inc. (NYSE:GTX) dropped by -$0.11 over the week and lost -$1.06 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.98. The stock recorded its established 52-week high on 07/29/19.
Since 03/23/20, the stock has traded to a low of $2.5 at 95.8%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Garrett Motion Inc.’s two-week RSI is 44.14. This suggests that the stock is neutral at the moment and that GTX shares’ price movement remains stable. The stochastic readings are equally revealing at 35.67% meaning the GTX share price is currently in neutral territory.
The technical chart shows that the GTX stock will likely settle at between $5.38 and $5.51 per share. However, if the stock dips below $4.98, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.71.
Currently, the stock is trading in the red of MACD, with a reading of -0.13. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned GTX a rating of Underweight in their intiating review released on September 10. RBC Capital Mkts analysts upgraded their recommendation of the stock from Underperform to Sector Perform in a flash note released to investors on January 23. Jefferies analysts see the stock as Hold when the analysts initiated the share price coverage on December 04, placing it at $13.
The average rating for the GTX equity is 3.2 and is currently gathering a bearish momentum. Of 5 analysts tracking Garrett Motion Inc. polled by Reuters, 4 rated GTX as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the GTX stock price is 2.41X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 1.4below the group’s average of 27.7. Garrett Motion Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 1.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Garrett Motion Inc. (NYSE:GTX) will decrease by about -99.95%, which will see them reach $373.85 million. The company’s full-year revenues are, however, expected to diminish by about -20.92%, down from $3250 million to $2570 million. GTX’s expected adjusted earnings should drop almost -167.44% to end up at -$0.58 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -70.51% to record $0.92/share.