Traders Purchase Large Volume of General Motors Put Options (GM)
Shares of General Motors (NYSE:GM) was the target of some unusual options trading activity on Friday. Stock investors bought 62,672 put options on the stock, American Banking & Market News reports. This represents an increase of approximately 129% compared to the typical volume of 27,349 put options.
A number of analysts have recently weighed in on GM shares. Analysts at TheStreet reiterated a “buy” rating on shares of General Motors in a research note to investors on Monday, December 23rd. Separately, analysts at Zacks reiterated a “neutral” rating on shares of General Motors in a research note to investors on Monday, December 16th. They now have a $42.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of General Motors from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $47.57.
Shares of General Motors (NYSE:GM) traded down 3.37% during mid-day trading on Friday, hitting $39.57. The stock had a trading volume of 41,430,204 shares. General Motors has a 1-year low of $26.19 and a 1-year high of $41.85. The stock’s 50-day moving average is $39.68 and its 200-day moving average is $36.56. The company has a market cap of $54.962 billion and a price-to-earnings ratio of 17.41.
General Motors (NYSE:GM) last announced its earnings results on Wednesday, October 30th. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.03. The company had revenue of $39.00 billion for the quarter, compared to the consensus estimate of $39.50 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
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