Global Business Travel Group (NYSE:GBTG) Shares Gap Down - Time to Sell?

Shares of Global Business Travel Group, Inc. (NYSE:GBTG - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $7.68, but opened at $7.00. Global Business Travel Group shares last traded at $7.50, with a volume of 50,442 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Evercore ISI lifted their target price on Global Business Travel Group from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Citigroup lifted their target price on Global Business Travel Group from $9.00 to $9.50 and gave the stock a "buy" rating in a report on Friday, October 4th.

Global Business Travel Group Stock Up 0.8 %

The firm has a 50-day moving average price of $7.47 and a 200 day moving average price of $6.79. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.65. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -77.40 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.11. The business had revenue of $625.00 million during the quarter, compared to analysts' expectations of $643.97 million. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. Sell-side analysts predict that Global Business Travel Group, Inc. will post -0.08 EPS for the current year.

Institutional Investors Weigh In On Global Business Travel Group

A number of large investors have recently modified their holdings of GBTG. Tidal Investments LLC acquired a new stake in shares of Global Business Travel Group during the 1st quarter valued at $3,383,000. Rhumbline Advisers boosted its holdings in shares of Global Business Travel Group by 419.3% during the 2nd quarter. Rhumbline Advisers now owns 143,883 shares of the company's stock valued at $950,000 after acquiring an additional 116,175 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Global Business Travel Group by 1,116.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company's stock valued at $6,652,000 after acquiring an additional 925,018 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Global Business Travel Group by 431.2% during the 2nd quarter. Renaissance Technologies LLC now owns 105,700 shares of the company's stock valued at $698,000 after acquiring an additional 85,800 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Global Business Travel Group during the 2nd quarter valued at $489,000. Institutional investors and hedge funds own 82.46% of the company's stock.

About Global Business Travel Group

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.