Blackstone Inc. [BX] is -16.31% lower this YTD. Is it still time to buy?


Blackstone Inc. [NYSE: BX] closed the trading session at $108.29 on 04/28/22. The day’s price range saw the stock hit a low of $104.28, while the highest price level was $109.91. The company report on April 27, 2022 that Atlantic Power Transmission LLC, a Blackstone Infrastructure Partners Portfolio Company, Announces $50 Million Commitment to New Jersey Workforce Development.

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Atlantic Power Transmission LLC (“APT”), a Blackstone (NYSE: BX) portfolio company, announces a $50 million commitment to workforce development in New Jersey. The commitment contributes towards creating a workforce hub for the burgeoning offshore wind industry in the Northeast region and the state, addressing one of the recommendations outlined by the New Jersey Offshore Wind Strategic Plan. APT remains committed to this smart, coordinated approach at this critical early stage in the development of the nation’s offshore wind market.

APT will initiate this investment into the New Jersey workforce upon award of its bids to provide transmission supporting the delivery of 3,600MW of offshore wind power to the existing electrical grid under the New Jersey Offshore Wind SAA Transmission Solicitation initiated by the New Jersey Board of Public Utilities and PJM Interconnection. This funding commitment of $50 million over ten years will support workforce development investment in New Jersey’s education, training, and research institutions.

The stocks have a year to date performance of -16.31 percent and weekly performance of -3.84 percent. The stock has been moved at -20.66 percent over the last six months. The stock has performed -17.83 percent around the most recent 30 days and changed -9.03 percent over the most recent 3-months.

If compared to the average trading volume of 4.71M shares, BX reached to a volume of 4195093 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Blackstone Inc. [BX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $147.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Exane BNP Paribas have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 07, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on December 16, 2021, representing the official price target for Blackstone Inc. stock. Previously, the target price had yet another raise to $135, while Wells Fargo analysts kept a Equal Weight rating on BX stock.

The Average True Range (ATR) for Blackstone Inc. is set at 5.19, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 6.38. The Price to Book ratio for the last quarter was 8.35, with the Price to Cash per share for the same quarter was set at 1.67. Price to Free Cash Flow for BX in the course of the last twelve months was 122.95.

BX stock trade performance evaluation

Blackstone Inc. [BX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.84. With this latest performance, BX shares dropped by -17.83% in over the last four-week period, additionally sinking by -20.66% over the last 6 months – not to mention a rise of 20.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BX stock in for the last two-week period is set at 40.00, with the RSI for the last a single of trading hit 37.51, and the three-weeks RSI is set at 41.98 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 119.32, while it was recorded at 109.23 for the last single week of trading, and 124.14 for the last 200 days.

Earnings per share (EPS) analysis for Blackstone Inc. [BX] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Blackstone Inc. go to 19.71%.

Blackstone Inc. [BX]: Insider Ownership positions

There are presently around $47,395 million, or 64.00% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 39,935,913, which is approximately 0.253% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 36,485,682 shares of the stock with an approximate value of $3.95 billion in BX stocks shares; and MORGAN STANLEY, currently with $2.26 billion in BX stock with ownership of nearly 7.714% of the company’s market capitalization.

Positions in Blackstone Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 867 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 43,272,596 shares. Additionally, 603 investors decreased positions by around 27,731,903 shares, while 257 investors held positions by with 366,659,115 shares. The mentioned changes placed institutional holdings at 437,663,614 shares, according to the latest SEC report filing. BX stock had 230 new institutional investments in for a total of 17,716,432 shares, while 82 institutional investors sold positions of 1,788,925 shares during the same period.