Tenneco Inc. [TEN] moved down -3.67: Why It’s Important

Tenneco Inc. [NYSE: TEN] plunged by -$0.66 during the normal trading session on Thursday and reaching a high of $17.85 during the day while it closed the day at $17.30. The company report on September 29, 2022 that Tenneco to Supply Monroe Intelligent Suspension Technology for Li Auto Electric SUV.

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Tenneco (NYSE:TEN) today announced that it will supply the electronic suspension technology for the upcoming L9 electric luxury SUV from Li Auto. Tenneco’s Advanced Suspension Technologies (AST) business will manufacture Monroe® Intelligent Suspension CVSAe™ electronic dampers for the new luxury model. The L9 is the second series model from the Beijing, China-based manufacturer of smart electric vehicles and the third model from a Chinese OEM to feature CVSAe technology.

CVSAe electronic damping technology continuously adapts to changing road conditions based on data provided by multiple onboard ride control sensors. An electronic control unit (ECU) processes sensor inputs and independently adjusts the electronic valve within each of the system’s four dampers, resulting in optimal handling and comfort characteristics. Drivers can choose their preferred driving mode, ranging from comfort-intensive to sporty. Already selected by leading global automakers for more than 75 vehicle models, the technology requires minimal electrical power, making it ideal for battery-electric and hybrid models.

Tenneco Inc. stock has also loss -7.39% of its value over the past 7 days. However, TEN stock has inclined by 0.82% in the 3 months of the year. Over the past six months meanwhile, it has lost -6.03% and gained 53.10% year-on date.

The market cap for TEN stock reached $1.52 billion, with 83.60 million shares outstanding and 81.42 million shares in the current float. Compared to the average trading volume of 1.44M shares, TEN reached a trading volume of 3491574 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Tenneco Inc. [TEN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TEN shares is $20.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TEN stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Tenneco Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 28, 2022. The new note on the price target was released on February 25, 2022, representing the official price target for Tenneco Inc. stock. Previously, the target price had yet another raise to $13, while Jefferies analysts kept a Buy rating on TEN stock.

The Average True Range (ATR) for Tenneco Inc. is set at 0.47, with the Price to Sales ratio for TEN stock in the period of the last 12 months amounting to 0.08.

TEN stock trade performance evaluation

Tenneco Inc. [TEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.39. With this latest performance, TEN shares dropped by -8.71% in over the last four-week period, additionally sinking by -6.03% over the last 6 months – not to mention a rise of 17.45% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TEN stock in for the last two-week period is set at 30.63, with the RSI for the last a single of trading hit 25.93, and the three-weeks RSI is set at 35.23 for Tenneco Inc. [TEN]. The present Moving Average for the last 50 days of trading for this stock 18.83, while it was recorded at 17.84 for the last single week of trading, and 16.31 for the last 200 days.

Tenneco Inc. [TEN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Tenneco Inc. [TEN] shares currently have an operating margin of +2.74 and a Gross Margin at +9.96. Tenneco Inc.’s Net Margin is presently recorded at +0.19.

Tenneco Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.20.

Tenneco Inc. [TEN]: Insider Ownership positions

There are presently around $1,200 million, or 83.80% of TEN stock, in the hands of institutional investors. The top three institutional holders of TEN stocks are: VANGUARD GROUP INC with ownership of 7,683,344, which is approximately 6.532% of the company’s market cap and around 0.30% of the total institutional ownership; PENTWATER CAPITAL MANAGEMENT LP, holding 5,803,000 shares of the stock with an approximate value of $100.39 million in TEN stocks shares; and BLACKROCK INC., currently with $97.04 million in TEN stock with ownership of nearly 18.81% of the company’s market capitalization.

Positions in Tenneco Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 104 institutional holders increased their position in Tenneco Inc. [NYSE:TEN] by around 14,510,932 shares. Additionally, 110 investors decreased positions by around 13,272,810 shares, while 31 investors held positions by with 41,582,459 shares. The mentioned changes placed institutional holdings at 69,366,201 shares, according to the latest SEC report filing. TEN stock had 30 new institutional investments in for a total of 7,400,938 shares, while 48 institutional investors sold positions of 6,804,559 shares during the same period.


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