Global Business Travel Group, Inc. (NYSE:GBTG) sees a big decline in short interest | Tech US News

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Global Business Travel Group, Inc. (NYSE:GBTG – Get Rating ) was the target of a large decline in short interest in October. As of October 31st, there was short interest totaling 408,400 shares, a decrease of 24.0% from the October 15th total of 537,600 shares. Based on an average daily trading volume of 128,500 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.2% of the company’s shares are sold short.

Global business travel group stock performance

Shares of NYSE GBTG traded down $0.40 during trading hours on Friday, hitting $4.96. The stock had a trading volume of 380,852 shares, compared to its average volume of 125,178. The stock has a fifty-day moving average price of $5.99. The company has a current ratio of 1.65, a quick ratio of 1.65, and a debt-to-equity ratio of 0.96. Global Business Travel Group has a twelve month low of $4.59 and a twelve month high of $10.02.

The Wall Street analyst weighs in

Several brokerages have recently commented on GBTG. Credit Suisse Group initiated coverage on Global Business Travel Group in a research note on Friday, September 30th. They issued an “outperform” rating and a $9.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Global Business Travel Group in a research report on Monday, October 3rd. They set a “buy” rating and a $7.10 price target for the company. Finally, Morgan Stanley initiated coverage on Global Business Travel Group in a research report on Wednesday, September 14th. They set an “equal weight” rating and a $9.00 price target for the company.

Institutional entrances and exits

Large investors have recently modified their holdings of the company. Credit Suisse AG acquired a new position in shares of Global Business Travel Group in the second quarter valued at $69,000. Virtu Financial LLC acquired a new position in Global Business Travel Group during the second quarter worth $80,000. Wulff Hansen & CO acquired a new position in Global Business Travel Group during the third quarter worth $77,000. Prelude Capital Management LLC acquired a new position in Global Business Travel Group during the second quarter worth $271,000. Finally, Cobalt Capital Management Inc. acquired a new position in Global Business Travel Group during the second quarter worth $327,000. 18.27% of the shares are currently owned by institutional investors and hedge funds.

Global Business Travel Group Company Profile

(Get rating)

Global Business Travel Group, Inc provides a business-to-business (B2B) travel platform. The company’s platform offers a suite of technology solutions for business travelers and corporate customers, travel content providers and third-party travel agencies. Its platform manages travel, expenses, and meetings and events for businesses.

See also

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