Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Baker Hughes Co shares valued at $4,000,010 were sold by Simonelli Lorenzo on Aug 08 ’24. At $35.00 per share, Simonelli Lorenzo sold 114,286 shares. The insider’s holdings dropped to 502,053 shares worth approximately $18.58 million following the completion of this transaction.
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Also, Simonelli Lorenzo purchased 114,286 shares, netting a total of over 4,000,010 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 $22.8 million.
As published in a research note from Wells Fargo on September 25, 2024, Baker Hughes Co [BKR] has been rated up from an Equal weight to an Overweight and the price target has been revised to $42 from $40. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in late July. As of January 29, 2024, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for BKR. Earlier on January 25, 2024, TD Cowen resumed its rating. Their recommendation was “an Outperform” for BKR stock.
Analyzing BKR Stock Performance
During the last five days, there has been a surge of approximately 0.71%. Over the course of the year, Baker Hughes Co shares have jumped approximately 8.25%. 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 $35.60, while a 200-day SMA reached $33.30. Nevertheless, trading volume fell to 8.65 million shares from 6.44 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 36.23, which, if violated, would cause prices to drop to 35.45. In the upper region, resistance lies at 37.64. The next price resistance is at 38.27. RSI (Relative Strength Index) is 54.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.64, which suggests the price will decrease in the coming days. Percent R is at 54.61%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
