Sunday, June 26, 2022

Baker Hughes Company [BKR] stock for 3,851,170 USD was sold by Simonelli Lorenzo

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Baker Hughes Company shares valued at $3,851,170 were sold by Simonelli Lorenzo on May 31. At $37.39 per share, Simonelli Lorenzo sold 103,000 shares. The insider’s holdings dropped to 472,759 shares worth approximately $13.96 million following the completion of this transaction.

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Also, Simonelli Lorenzo sold 103,000 shares, netting a total of over 3,605,000 in proceeds. Following the sale of shares at $35.00 each, the insider now holds 575,759 shares.

Before that, GENERAL ELECTRIC CO had sold 72,025,826 shares from its account. In a trade valued at $2,481,289,706, the 10% Owner traded Baker Hughes Company shares for $34.45 each. Upon closing the transaction, the insider’s holdings decreased to 72,025,826 shares, worth approximately $116.05 million.

As published in a research note from HSBC Securities on April 26, 2022, Baker Hughes Company [BKR] has been rated up from a Hold to a Buy and the price target has been revised to $38.30. This represents a 22.92% premium over Wednesday’s closing price. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late March. As of January 21, 2022, Susquehanna has reiterated its “Positive” rating for BKR. Earlier on January 21, 2022, Stephens resumed its rating. Their recommendation was “an Overweight” for BKR stock.

Analyzing BKR’s Price Performance

On Wednesday, Baker Hughes Company [NASDAQ: BKR] plunged -3.15% to $29.52. The stock’s lowest price that day was $28.73, but it reached a high of $29.905 in the same session. During the last five days, there has been a drop of approximately -10.36%. Over the course of the year, Baker Hughes Company shares have jumped approximately 22.69%. Shares of the company reached a 52-week high of $39.78 on 03/24/22 and a 52-week low of $24.10 on 01/03/22. A 50-day SMA is recorded $34.07, while a 200-day SMA reached $29.08. Nevertheless, trading volume fell to 11.01 million shares from 10.41 million shares the previous day.

Support And Resistance Levels for Baker Hughes Company (BKR)

According to the 24-hour chart, there is a support level at 28.86, which, if violated, would cause prices to drop to 28.21. In the upper region, resistance lies at 30.04. The next price resistance is at 30.56. RSI (Relative Strength Index) is 30.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.06, which suggests the price will decrease in the coming days. Percent R is at 92.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Baker Hughes Company (BKR)?

According to Capital Research & Management Co filings, the company currently owns 116,492,563 shares, which is about 11.83% of the total BKR shares outstanding. The investor’s shares have appreciated by 10,021,569 from its previous 13-F filing of 106470994.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $3,603,074,259. Capital Research & Management Co acquire a 9.89% interest valued at $3.41 billion while SSgA Funds Management, Inc. purchased a 807,369 stake. A total of 1,081,274 shares of Baker Hughes Company were bought by BlackRock Fund Advisors during the quarter, and -19,893,115 were sold by Dodge & Cox. In its current portfolio, Norges Bank Investment Management holds 20,832,453 shares valued at $749.55 million.

In terms of Baker Hughes Company share price expectations, FactSet research, analysts set an average price target of $41.38 in the next 12 months, up nearly 34.51% from the previous closing price of $30.48. Analysts anticipate Baker Hughes Company stock to reach $47.00 by 2022, with the lowest price target being $35.00. In spite of this, 28 analysts ranked Baker Hughes Company stock as an Overweight at the end of 2022. On January 21, 2022, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and reiterated coverage with a $33.

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