General Motors Company [NYSE: GM] surged by $0.55 during the normal trading session on while it closed the day at $44.23. 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.
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.
General Motors Company stock has also loss -2.47% of its value over the past 7 days. However, GM stock has inclined by 24.63% in the 3 months of the year. Over the past six months meanwhile, it has gained 42.49% and gained 23.13% year-on date.
The market cap for GM stock reached $51.06 billion, with 1.20 billion shares outstanding and 1.15 billion shares in the current float. Compared to the average trading volume of 18.17M shares, GM reached a trading volume of 11184762 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 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 $50.24 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 1.02, 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 0.83, with the Price to Cash per share for the same quarter was set at 25.18.
GM stock trade performance evaluation
General Motors Company [GM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.47. With this latest performance, GM shares gained by 10.16% in over the last four-week period, additionally plugging by 42.49% over the last 6 months – not to mention a rise of 23.75% 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 62.67, with the RSI for the last a single of trading hit 59.56, and the three-weeks RSI is set at 63.81 for General Motors Company [GM]. The present Moving Average for the last 50 days of trading for this stock 40.36, while it was recorded at 44.67 for the last single week of trading, and 35.37 for the last 200 days.
General Motors Company [GM]: An insightful look at the core 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 per share (EPS) analysis for General Motors Company [GM] stock
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%.
General Motors Company [GM]: Institutional Ownership
The top three institutional holders of GM stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GM stock with ownership which is approximately 5.8386%.
