Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Baker Hughes Co shares valued at $4,000,010 were purchased by Simonelli Lorenzo on Aug 08 ’24. At $35.00 per share, Simonelli Lorenzo acquired 114,286 shares.
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Also, Simonelli Lorenzo purchased 114,286 shares, netting a total of over 4,405,725 in proceeds.
Before that, Simonelli Lorenzo had sold 114,286 shares from its account. In a trade valued at $4,405,725, the Chairman, President and CEO traded Baker Hughes Co shares for $38.55 each. Upon closing the transaction, the insider’s holdings decreased to 114,286 shares, worth approximately $21.7 million.
As published in a research note from TD Cowen on July 29, 2024, Baker Hughes Co [BKR] has been retained to a Buy and the price target has been revised to $50. Analysts at Wolfe Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Peer perform”‘ outlook in a report released in late January. As of January 25, 2024, TD Cowen has reiterated its “an Outperform” rating for BKR.
Analyzing BKR Stock Performance
During the last five days, there has been a drop of approximately -6.51%. Over the course of the year, Baker Hughes Co shares have jumped approximately 2.98%. Shares of the company reached a 52-week high of $39.05 on 07/31/24 and a 52-week low of $28.32 on 02/05/24. A 50-day SMA is recorded $34.30, while a 200-day SMA reached $32.85. Nevertheless, trading volume fell to 5.81 million shares from 7.06 million shares the previous day.
Support And Resistance Levels for Baker Hughes Co (BKR)
According to the 24-hour chart, there is a support level at 34.50, which, if violated, would cause prices to drop to 33.79. In the upper region, resistance lies at 35.61. The next price resistance is at 36.02. RSI (Relative Strength Index) is 48.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.62, which suggests the price will decrease in the coming days. Percent R is at 74.76%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
