Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) Sees Large Outflow of Money

The Goodyear Tire & Rubber Company (NASDAQ:GT) : Net money flow in The Goodyear Tire & Rubber Company (NASDAQ:GT) was negative ($1.19 million) and the inflow of money on uptick was $0.12 million, whereas, the outflow of money on downticks amounted to $1.31 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.09. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $1.18 million. The money flow in block trades was negative ($1.18). The Goodyear Tire & Rubber Company (NASDAQ:GT) gained $0.18 cent during the day and reached $25.44, a gain of 0.71% over the previous day.


In an insider trading activity, Morell Michael J, director of Goodyear Tire & Rubber Co /Oh/, had purchased 875 shares on May 5, 2016. The total value of the transaction was $24,491. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered. Currently the company Insiders own 1.2% of The Goodyear Tire & Rubber Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 45.46% . Institutional Investors own 91.92% of The Goodyear Tire & Rubber Company shares. During last six month period, the net percent change held by insiders has seen a change of -9.67%.

The company shares have dropped -17.04% from its 1 Year high price. On Dec 2, 2015, the shares registered one year high at $35.30 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $27.24 and the 200 Day Moving Average price is recorded at $29.76. The Goodyear Tire & Rubber Company (NASDAQ:GT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $25.22 and $25.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $25.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $25.43, notching a gain of 0.67% for the day. The total traded volume was 3,629,784 . The stock had closed at $25.26 on the previous day.

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Companys business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles, motorcycles, trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava and Fulda brands and various other Goodyear owned-house brands, and the private-label brands of certain customers.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.