Baker Hughes Co’s filing revealed that its Chairman, President and CEO Simonelli Lorenzo unloaded Company’s shares for reported $4.0 million on Aug 08 ’24. In the deal valued at $35.00 per share,114,286 shares were sold. As a result of this transaction, Simonelli Lorenzo now holds 502,053 shares worth roughly $18.09 million.
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Then, Simonelli Lorenzo bought 114,286 shares, generating $4,000,010 in total proceeds.
Before that, Simonelli Lorenzo sold 114,286 shares. Baker Hughes Co shares valued at $4,405,725 were divested by the Chairman, President and CEO at a price of $38.55 per share. As a result of the transaction, Simonelli Lorenzo now holds 616,339 shares, worth roughly $22.21 million.
TD Cowen reiterated its Baker Hughes Co [BKR] rating to a Buy in a research note published on July 29, 2024; the price target was $50. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in late January from “an Outperform” to “a Peer perform”. TD Cowen also remained covering BKR and reiterated its “an Outperform” recommendation on January 25, 2024.
Price Performance Review of BKR
On Friday, Baker Hughes Co [NASDAQ:BKR] saw its stock fall -0.88% to $36.04. Over the last five days, the stock has gained 7.90%. Baker Hughes Co shares have risen nearly 5.44% since the year began. Nevertheless, the stocks have risen 0.67% over the past one year. While a 52-week high of $39.05 was reached on 07/31/24, a 52-week low of $28.32 was recorded on 02/05/24. SMA at 50 days reached $35.18, while 200 days put it at $32.91.
Levels Of Support And Resistance For BKR Stock
The 24-hour chart illustrates a support level at 35.72, which if violated will result in even more drops to 35.41. On the upside, there is a resistance level at 36.40. A further resistance level may holdings at 36.77. The Relative Strength Index (RSI) on the 14-day chart is 61.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.52, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.04%. Stochastics %K at 78.07% indicates the stock is a holding.
How much short interest is there in Baker Hughes Co?
A steep rise in short interest was recorded in Baker Hughes Co stocks on 2024-08-30, growing by 1.89 million shares to a total of 18.63 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 16.74 million shares. There was a rise of 10.15%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on June 07, 2023 when CapitalOne began covering the stock and recommended ‘”an Overweight”‘ rating along with a $38 price target.
