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

Garrett Motion Inc. (NYSE:GTX)’s share price gapped down before the market opened 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.

Analyst Upgrades and Downgrades

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

Garrett Motion Stock Performance

The firm has a market capitalization of $1.74 billion, a PE ratio of -6.95 and a beta of 1.21. The firm has a fifty day moving average of $8.92 and a 200 day moving average of $9.20.

Garrett Motion (NYSE:GTX) last announced its earnings results on Thursday, April 25th. The company reported $0.28 EPS for the quarter, beating the consensus estimate 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%. Research analysts forecast that Garrett Motion Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of Garrett Motion stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total transaction of $37,827.79. Following the sale, the insider now directly owns 27,337,398 shares in the company, valued at approximately $273,647,353.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Endowment Management LP bought a new stake in shares of Garrett Motion in the 4th quarter valued at approximately $1,051,000. Findell Capital Management LLC bought a new stake in shares of Garrett Motion in the 4th quarter valued at approximately $6,875,000. Jump Financial LLC increased its holdings in shares of Garrett Motion by 1,332.1% in the 4th quarter. Jump Financial LLC now owns 187,600 shares of the company’s stock valued at $1,814,000 after acquiring an additional 174,500 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Garrett Motion by 152.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,224,144 shares of the company’s stock valued at $17,526,000 after acquiring an additional 1,341,535 shares during the last quarter. Finally, Prevatt Capital Ltd bought a new stake in shares of Garrett Motion in the 4th quarter valued at approximately $24,188,000. 86.27% of the stock is currently 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.