Garrett Motion (NYSE:GTX) Shares Gap Down to $9.12

Garrett Motion Inc. (NYSE:GTX) shares gapped down prior to trading on Thursday . The stock had previously closed at $9.12, but opened at $8.54. Garrett Motion shares last traded at $7.93, with a volume of 412,238 shares changing hands.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and issued a $15.00 price target on shares of Garrett Motion in a research note on Monday, June 3rd.

Garrett Motion Trading Down 15.7 %

The company has a 50 day simple moving average of $8.92 and a 200-day simple moving average of $9.20. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -6.95 and a beta of 1.21.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, April 25th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. The business had revenue of $915.00 million for the quarter, compared to the consensus estimate of $938.00 million. Garrett Motion had a negative return on equity of 35.33% and a net margin of 6.42%. Equities analysts forecast that Garrett Motion Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Garrett Motion

In related news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of Garrett Motion stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $10.01, for a total value of $37,827.79. Following the sale, the insider now owns 27,337,398 shares of the company’s stock, valued at $273,647,353.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently made changes to their positions in the company. Citigroup Inc. boosted its stake in shares of Garrett Motion by 152.8% in the third quarter. Citigroup Inc. now owns 14,158 shares of the company’s stock valued at $112,000 after buying an additional 8,558 shares during the period. Vanguard Group Inc. boosted its stake in shares of Garrett Motion by 152.0% in the third quarter. Vanguard Group Inc. now owns 2,224,144 shares of the company’s stock valued at $17,526,000 after buying an additional 1,341,535 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Garrett Motion in the fourth quarter valued at approximately $113,000. Altfest L J & Co. Inc. boosted its stake in shares of Garrett Motion by 98.0% in the fourth quarter. Altfest L J & Co. Inc. now owns 19,800 shares of the company’s stock valued at $191,000 after buying an additional 9,800 shares during the period. Finally, Quent Capital LLC raised its position in Garrett Motion by 27,500.0% during the fourth quarter. Quent Capital LLC now owns 11,040 shares of the company’s stock valued at $107,000 after purchasing an additional 11,000 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.