Garrett Motion (NYSE:GTX) Shares Gap Down – Time to Sell?

Shares of Garrett Motion Inc. (NYSE:GTX) gapped down before the market opened on Thursday . The stock had previously closed at $7.98, but opened at $7.74. Garrett Motion shares last traded at $7.39, with a volume of 372,612 shares traded.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a research note on Thursday, September 19th.

Garrett Motion Stock Performance

The firm has a market cap of $1.67 billion, a P/E ratio of -6.46 and a beta of 1.15. The stock’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $8.69.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. The company had revenue of $890.00 million during the quarter, compared to analysts’ expectations of $950.00 million. During the same period in the previous year, the business earned ($1.88) earnings per share. As a group, analysts forecast that Garrett Motion Inc. will post 1.13 EPS for the current fiscal year.

Insider Activity

In related news, Director Julia Steyn sold 14,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total transaction of $122,780.00. Following the transaction, the director now owns 53,781 shares in the company, valued at $471,659.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors have recently modified their holdings of the business. Quarry LP lifted its position in shares of Garrett Motion by 54.8% during the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock valued at $44,000 after buying an additional 1,830 shares in the last quarter. nVerses Capital LLC purchased a new position in Garrett Motion during the 2nd quarter valued at $67,000. Caprock Group LLC purchased a new position in shares of Garrett Motion during the second quarter worth approximately $103,000. SG Americas Securities LLC bought a new position in Garrett Motion in the second quarter worth approximately $118,000. Finally, MBB Public Markets I LLC bought a new stake in Garrett Motion during the 2nd quarter valued at $131,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

About Garrett Motion

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.