GTX Stock Summary and Trading Ideas (Garrett Motion | NASDAQ:GTX)

Garrett Motion Inc designs, manufactures and sells engineered turbocharger and electric-boosting technologies for light and commercial vehicle original equipment manufacturers (OEMs). The company is a technology leader with expertise in delivering products across gasoline, diesel, natural gas and electrified powertrains. The company also sells its technologies in the aftermarket through its distribution network. The company derives maximum of its revenue from Gas and geographically from Europe.

Garrett Motion trades on the NASDAQ stock market under the symbol GTX.

As of April 16, 2024, GTX stock price climbed to $9.34 with 245,402 million shares trading.

GTX has a beta of 0.65, meaning it tends to be less sensitive to market movements. GTX has a correlation of 0.05 to the broad based SPY ETF.

GTX has a market cap of $2.12 billion. This is considered a Mid Cap stock.

Last quarter Garrett Motion reported $945 million in Revenue and $.22 earnings per share. This fell short of revenue expectation by $-4 million and met earnings estimates .

The top ETF exchange traded funds that GTX belongs to (by Net Assets): VXF, SCHA, DWAS, DFAS, VCR.

GTX has underperformed the market in the last year with a price return of +18.2% while the SPY ETF gained +24.1%. GTX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +5.5% and -6.3%, respectively, while the SPY returned +6.3% and -3.3%, respectively.

GTX support price is $9.13 and resistance is $9.53 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GTX stock will trade within this expected range on the day.