Goodyear Tire & Rubber Sees Unusually High Options Volume (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 19,427 call options on the stock. This represents an increase of approximately 447% compared to the average daily volume of 3,553 call options.

Goodyear Tire & Rubber Trading Down 0.2 %

Shares of GT opened at $8.23 on Thursday. The business’s fifty day moving average is $9.07 and its 200-day moving average is $8.91. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -7.91 and a beta of 1.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. Goodyear Tire & Rubber has a 52-week low of $7.27 and a 52-week high of $13.86.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GT. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber currently has an average rating of “Hold” and an average target price of $13.30.

Institutional Investors Weigh In On Goodyear Tire & Rubber

Several hedge funds have recently added to or reduced their stakes in GT. Sanctuary Advisors LLC acquired a new position in Goodyear Tire & Rubber during the second quarter worth $178,000. Inspire Investing LLC lifted its holdings in shares of Goodyear Tire & Rubber by 50.9% in the third quarter. Inspire Investing LLC now owns 51,799 shares of the company’s stock worth $458,000 after buying an additional 17,476 shares in the last quarter. Sound Income Strategies LLC grew its position in Goodyear Tire & Rubber by 2,122.5% during the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after buying an additional 3,778 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Goodyear Tire & Rubber in the 3rd quarter worth approximately $649,000. Finally, Inspire Advisors LLC lifted its position in Goodyear Tire & Rubber by 28.8% in the 3rd quarter. Inspire Advisors LLC now owns 18,846 shares of the company’s stock worth $167,000 after buying an additional 4,209 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.