Baker Hughes Co’s recently made public 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 $18.27 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 $22.43 million.
Wells Fargo upgraded its Baker Hughes Co [BKR] rating to an Overweight from a an Equal weight in a research note published on September 25, 2024; the price target was increased to $42 from $40. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late July has reiterated a ‘”a Buy”‘ rating for it. Wolfe Research also remained covering BKR and has decreased its forecast on January 29, 2024 with a “Peer perform” recommendation from previously “an Outperform” rating. TD Cowen maintained its rating on January 25, 2024. It rated BKR as “an Outperform”.
Price Performance Review of BKR
On Friday, Baker Hughes Co [NASDAQ:BKR] saw its stock fall -1.30% to $36.40. Over the last five days, the stock has lost -3.45%. Baker Hughes Co shares have risen nearly 6.50% since the year began. Nevertheless, the stocks have risen 1.90% 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 $35.51, while 200 days put it at $33.25.
Levels Of Support And Resistance For BKR Stock
The 24-hour chart illustrates a support level at 35.94, which if violated will result in even more drops to 35.48. On the upside, there is a resistance level at 36.90. A further resistance level may holdings at 37.40. The Relative Strength Index (RSI) on the 14-day chart is 49.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.59, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.80%. Stochastics %K at 41.10% 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 2024-09-30, growing by 0.56 million shares to a total of 19.19 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 18.63 million shares. There was a rise of 2.92%, which implies that there is a positive sentiment for the stock.
