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Baker Hughes Co (BKR) gets rating Downgrade from Wolfe Research

Baker Hughes Co’s recently made public that its SVP, Enterprise Op Excellence Apostolides James E unloaded Company’s shares for reported $0.17 million on Apr 05 ’24. In the deal valued at $33.88 per share,5,000 shares were sold. As a result of this transaction, Apostolides James E now holds 14,998 shares worth roughly $0.5 million.

Then, Apostolides James E sold 10,000 shares, generating $294,400 in total proceeds. Upon selling the shares at $29.44, the SVP, Enterprise Op Excellence now owns 14,451 shares.

Before that, BORRAS MARIA C sold 10,000 shares. Baker Hughes Co shares valued at $335,300 were divested by the EVP, Oilfield Services & Equip at a price of $33.53 per share. As a result of the transaction, BORRAS MARIA C now holds 59,463 shares, worth roughly $1.98 million.

Wolfe Research downgraded its Baker Hughes Co [BKR] rating to a Peer perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late January has reiterated a ‘”an Outperform”‘ rating for it. CapitalOne started covering the stock on June 07, 2023. It rated BKR as “an Overweight”.

Price Performance Review of BKR

On Monday, Baker Hughes Co [NASDAQ:BKR] saw its stock jump 1.16% to $33.22. Over the last five days, the stock has gained 2.34%. Baker Hughes Co shares have fallen nearly -2.81% since the year began. Nevertheless, the stocks have risen 15.19% over the past one year. While a 52-week high of $37.58 was reached on 01/02/24, a 52-week low of $26.81 was recorded on 02/05/24. SMA at 50 days reached $32.04, while 200 days put it at $33.47. A total of 5.16 million shares were traded, compared to the trading of 11.45 million shares in the previous session.

Levels Of Support And Resistance For BKR Stock

The 24-hour chart illustrates a support level at 32.86, which if violated will result in even more drops to 32.49. On the upside, there is a resistance level at 33.41. A further resistance level may holdings at 33.59. The Relative Strength Index (RSI) on the 14-day chart is 54.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.28%. Stochastics %K at 48.67% indicates the stock is a holding.

The most recent change occurred on April 19, 2023 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $31 price target.

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