GMR Solutions (NYSE:GMRS) Stock Price Crosses Above Fifty Day Moving Average Following Analyst Downgrade

GMR Solutions Inc. (NYSE:GMRS)’s stock price passed above its 50-day moving average during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $15.00 to $16.00. The stock has a 50-day moving average of $11.30 and traded as high as $11.99. JPMorgan Chase & Co. currently has an overweight rating on the stock. GMR Solutions shares last traded at $11.78, with a volume of 2,552,949 shares.

Several other brokerages also recently weighed in on GMRS. Weiss Ratings initiated coverage on shares of GMR Solutions in a report on Friday, August 14th. They issued a “sell (d)” rating on the stock. UBS Group began coverage on shares of GMR Solutions in a research note on Monday, June 8th. They set a “buy” rating and a $20.00 price objective for the company. The Goldman Sachs Group set a $30.00 price objective on shares of GMR Solutions in a report on Tuesday, August 18th. Wall Street Zen raised shares of GMR Solutions to a “hold” rating in a report on Saturday, May 23rd. Finally, Morgan Stanley started coverage on shares of GMR Solutions in a research note on Monday, June 8th. They issued an “equal weight” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.56.

Insiders Place Their Bets

In other news, EVP Thomas A. A Cook sold 251,882 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.20, for a total value of $3,072,960.40. Following the sale, the executive vice president owned 675,686 shares in the company, valued at $8,243,369.20. This represents a 27.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Horne Edward Van sold 262,278 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.20, for a total value of $3,199,791.60. Following the sale, the chief operating officer directly owned 575,004 shares in the company, valued at approximately $7,015,048.80. This trade represents a 31.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 2,353,423 shares of company stock worth $28,711,761.

Institutional Investors Weigh In On GMR Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Securities LLC purchased a new position in shares of GMR Solutions during the 2nd quarter valued at approximately $169,000. Royce & Associates LP acquired a new position in shares of GMR Solutions in the 3rd quarter valued at $123,000. State of Wyoming purchased a new stake in GMR Solutions during the third quarter worth $137,000. Premier Path Wealth Partners LLC purchased a new stake in GMR Solutions during the second quarter worth $348,000. Finally, Squarepoint Ops LLC acquired a new stake in GMR Solutions during the second quarter valued at $801,000.

GMR Solutions Stock Up 7.2%

The stock has a market cap of $785.73 million and a P/E ratio of -7.55. The company has a current ratio of 1.74, a quick ratio of 2.01 and a debt-to-equity ratio of 4.59. The business’s 50-day simple moving average is $11.30.

GMR Solutions (NYSE:GMRS) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. The firm had revenue of $1.60 billion during the quarter. Analysts predict that GMR Solutions Inc. will post 1.68 EPS for the current fiscal year.

About GMR Solutions

GMR Solutions Inc. is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc. is based in Lewisville, Texas.