Gates Industrial Corp (GTES) Sees Rise in Short Interest

October 18, 2024 10:02 AM AEDT | By Team Kalkine Media

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Gates Industrial Corp (GTES) Sees Rise in Short Interest — Image source: Shutterstocks

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Headlines

Short Interest Rises in September

Analysts Share Updated Ratings

Outlook for Gates Industrial Stock

Gates Industrial Corp (NYSE:GTES) experienced a notable increase in short interest during September. As of the end of the month, the total short interest had risen, indicating growing attention on the stock. The short interest ratio reflects the average number of days needed to cover these positions based on the trading volume, providing insights into market sentiment.

Several research analysts recently updated their ratings on Gates Industrial. Robert W. Baird revised their outlook and adjusted the price target. Similarly, Evercore ISI raised their target, highlighting a more favorable stance on the company's future. Royal Bank of Canada also shifted its rating to a more positive perspective, showing confidence in the company's performance.

Morgan Stanley initiated coverage on Gates Industrial, giving a balanced rating, while Goldman Sachs adjusted its target price, reflecting a neutral stance. Overall, the analysis from various firms offered a mix of positive and neutral perspectives.

According to data, four analysts rated the stock with a hold rating, while six recommended a more optimistic outlook. The company continues to attract attention from both investors and analysts alike, and these ratings suggest a range of possibilities for Gates Industrial's future performance.

The updated ratings and projections emphasize the dynamic nature of the stock, with different firms offering varied insights.

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