General Motors (NYSE:GM) Stock Experiences 5.2% Decline

2 min read | September 25, 2024 04:01 PM EDT | By Team Kalkine Media

General Motors (NYSE:GM) Stock Experiences 5.2% Decline — Image source: Shuttestock

Headlines

General Motors' stock price fell 5.7%, closing at $45.35 after hitting a low of $44.98.
A significant trading volume of about 8.4 million shares was noted, reflecting a 45% decline from the average.
Various analysts have adjusted their ratings and target prices, resulting in mixed evaluations and an average target of $54.92.

General Motors (NYSE:GM) faced a notable 5.7% decrease in its stock price during Wednesday's trading session. The shares dipped to a low of $44.98 before closing at $45.35. A significant trading volume of approximately 8,443,729 shares was recorded, marking a 45% reduction compared to the average daily volume of 15,265,092 shares. The previous close stood at $48.07.

Multiple research analysts have recently evaluated General Motors. Morgan Stanley adjusted its rating, moving from an equal weight stance to an underweight rating, while also lowering the target price from $47.00 to $42.00. Sanford C. Bernstein modified its rating from outperform to market perform, with a new target price of $53.00. Royal Bank of Canada revised its price target from $58.00 to $54.00, maintaining an outperform rating. Deutsche Bank reaffirmed a hold rating with a target price of $53.00, and Nomura Securities introduced a strong sell rating on August 5th.

Overall, four investment analysts have given a sell rating, six have indicated a hold rating, eleven have assigned a positive rating, and one has issued a strong positive rating. According to MarketBeat data, the stock currently holds an average rating and a consensus price target of $54.92.

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