HSBC Securities slashes price target on Baker Hughes Company [BKR] – find out why.

Baker Hughes Company [NASDAQ: BKR] price plunged by -2.18 percent to reach at -$0.53. The company report on September 16, 2022 that Baker Hughes Announces Date for Third Quarter 2022 Earnings Release and Webcast.


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Baker Hughes (NASDAQ: BKR) will hold a webcast Wednesday, Oct. 19, 2022, to discuss the results for the third quarter ending Sept. 30, 2022. The webcast is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). A press release announcing the results will be issued at 7 a.m. Eastern Time (6 a.m. Central Time).

To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast.

A sum of 35777273 shares traded at recent session while its average daily volume was at 9.81M shares. Baker Hughes Company shares reached a high of $24.065 and dropped to a low of $23.46 until finishing in the latest session at $23.80.

The one-year BKR stock forecast points to a potential upside of 32.79. The average equity rating for BKR stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Baker Hughes Company [BKR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BKR shares is $35.41 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BKR stock is a recommendation set at 2.00. 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.

HSBC Securities have made an estimate for Baker Hughes Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $28 to $43. The new note on the price target was released on March 31, 2022, representing the official price target for Baker Hughes Company stock. Previously, the target price had yet another raise from $30 to $33, while Susquehanna kept a Positive rating on BKR stock. On January 21, 2022, analysts increased their price target for BKR shares from 30 to 35.

The Average True Range (ATR) for Baker Hughes Company is set at 1.04, with the Price to Sales ratio for BKR stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 3.74.

BKR Stock Performance Analysis:

Baker Hughes Company [BKR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.74. With this latest performance, BKR shares dropped by -3.84% in over the last four-week period, additionally sinking by -31.96% over the last 6 months – not to mention a drop of -2.42% 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 BKR stock in for the last two-week period is set at 41.58, with the RSI for the last a single of trading hit 39.48, and the three-weeks RSI is set at 42.24 for Baker Hughes Company [BKR]. The present Moving Average for the last 50 days of trading for this stock 25.39, while it was recorded at 24.70 for the last single week of trading, and 29.47 for the last 200 days.

Insight into Baker Hughes Company Fundamentals:

Baker Hughes Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.50.

BKR Stock EPS

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 BKR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Baker Hughes Company go to 56.40%.

Baker Hughes Company [BKR] Insider Position Details

There are presently around $23,906 million, in the hands of institutional investors. The top three institutional holders of BKR stocks are: CAPITAL WORLD INVESTORS with ownership of 120,131,578, which is approximately 3.124% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 112,909,088 shares of the stock with an approximate value of $2.69 billion in BKR stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.61 billion in BKR stock with ownership of nearly 15.537% of the company’s market capitalization.

368 institutional holders increased their position in Baker Hughes Company [NASDAQ:BKR] by around 132,027,309 shares. Additionally, 287 investors decreased positions by around 127,001,464 shares, while 84 investors held positions by with 745,418,002 shares. The mentioned changes placed institutional holdings at 1,004,446,775 shares, according to the latest SEC report filing. BKR stock had 74 new institutional investments in for a total of 9,723,032 shares, while 77 institutional investors sold positions of 7,604,185 shares during the same period.

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