Piper Sandler slashes price target on General Motors Company [GM] – find out why.

General Motors Company [NYSE: GM] jumped around 0.76 points on Thursday, while shares priced at $45.35 at the close of the session, up 1.70%. The company report on March 7, 2024 at 12:15 PM that NPS Completes $17.5M Series B Funding for Software-Defined Radar Led by Cota Capital with Key Strategic Investment from GM Ventures and RTX Ventures.

Neural Propulsion Systems (NPS), a pioneer in software-defined radar, today announced it secured a $17.5 million Series B funding round. The round is led by Cota Capital with contributions from GM Ventures, the venture capital arm of General Motors Co. (NYSE: GM), and RTX Ventures, the venture capital arm of RTX (NYSE: RTX). This collaboration marks a transformative step in enhancing roadway safety (benefiting pedestrians, drivers and all other traffic participants) and defense radar systems.

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NPS will use the investment to further develop and apply its award-winning Atomic Sensing Platform to automotive radar technology. The platform provides significantly enhanced, reliable radar resolution and groundbreaking precision. The improved performance stems from a new mathematical framework known as the Atomic Norm (AN), revolutionizing how the raw sensor data is processed into relevant information.

Compared to the average trading volume of 18.35M shares, GM reached a trading volume of 14604362 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about General Motors Company [GM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GM shares is $49.52 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GM stock is a recommendation set at 1.83. 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.

Piper Sandler have made an estimate for General Motors Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 15, 2024. While these analysts kept the previous recommendation, Redburn Atlantic raised their target price to Neutral. The new note on the price target was released on January 24, 2024, representing the official price target for General Motors Company stock. Previously, the target price had yet another raise to $42, while Wolfe Research analysts kept a Outperform rating on GM stock. On December 04, 2023, analysts increased their price target for GM shares from 38 to 42.

The Average True Range (ATR) for General Motors Company is set at 0.96, with the Price to Sales ratio for GM stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 0.85, with the Price to Cash per share for the same quarter was set at 25.18.

How has GM stock performed recently?

General Motors Company [GM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.44. With this latest performance, GM shares gained by 11.62% in over the last four-week period, additionally plugging by 40.19% over the last 6 months – not to mention a rise of 32.52% 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 GM stock in for the last two-week period is set at 78.05, with the RSI for the last a single of trading hit 82.81, and the three-weeks RSI is set at 74.65 for General Motors Company [GM]. The present Moving Average for the last 50 days of trading for this stock 39.40, while it was recorded at 44.11 for the last single week of trading, and 35.19 for the last 200 days.

General Motors Company [GM]: Deeper insight into the fundamentals

General Motors Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.08.

Earnings analysis for General Motors Company [GM]

With the latest financial reports released by the company, General Motors Company posted 2.21/share EPS, while the average EPS was predicted by analysts to be reported at 1.73/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 27.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for General Motors Company go to 11.35%.

Insider trade positions for General Motors Company [GM]

The top three institutional holders of GM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GM stock with ownership which is approximately 5.8325%.