Blackstone Inc. [NYSE: BX] price surged by 6.12 percent to reach at $5.28. The company report on October 24, 2022 that Blackstone and Dominium Partner to Bring New Affordable Housing to Phoenix.
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Blackstone to Provide $48 Million of Tax Credit Equity to Support Dominium’s New 372-Unit LIHTC Development in Phoenix, Arizona.
Delivers on Blackstone’s Commitment to Improving Communities and Expanding Access to Affordable Housing.
A sum of 5251920 shares traded at recent session while its average daily volume was at 3.92M shares. Blackstone Inc. shares reached a high of $91.60 and dropped to a low of $86.26 until finishing in the latest session at $91.55.
The one-year BX stock forecast points to a potential upside of 12.5. The average equity rating for BX stock is currently 2.30, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $104.63 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 2.30. 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.
Credit Suisse have made an estimate for Blackstone Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 19, 2022. The new note on the price target was released on October 11, 2022, representing the official price target for Blackstone Inc. stock. Previously, the target price had yet another raise to $120, while Barclays analysts kept a Overweight rating on BX stock. On July 25, 2022, analysts decreased their price target for BX shares from 127 to 115.
The Average True Range (ATR) for Blackstone Inc. is set at 4.19, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 8.69. The Price to Book ratio for the last quarter was 7.50, with the Price to Cash per share for the same quarter was set at 3.61.
BX Stock Performance Analysis:
Blackstone Inc. [BX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.59. With this latest performance, BX shares gained by 10.09% in over the last four-week period, additionally sinking by -14.66% over the last 6 months – not to mention a drop of -34.41% 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 54.69, with the RSI for the last a single of trading hit 59.80, and the three-weeks RSI is set at 51.70 for Blackstone Inc. [BX]. The present Moving Average for the last 50 days of trading for this stock 92.49, while it was recorded at 87.01 for the last single week of trading, and 106.69 for the last 200 days.
BX 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 BX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Blackstone Inc. go to 14.75%.
Blackstone Inc. [BX] Insider Position Details
There are presently around $40,304 million, or 63.70% of BX stock, in the hands of institutional investors. The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 45,757,475, which is approximately 1.719% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 38,909,791 shares of the stock with an approximate value of $3.56 billion in BX stocks shares; and MORGAN STANLEY, currently with $1.95 billion in BX stock with ownership of nearly 7.127% of the company’s market capitalization.
849 institutional holders increased their position in Blackstone Inc. [NYSE:BX] by around 33,295,639 shares. Additionally, 689 investors decreased positions by around 28,690,211 shares, while 217 investors held positions by with 378,254,987 shares. The mentioned changes placed institutional holdings at 440,240,837 shares, according to the latest SEC report filing. BX stock had 115 new institutional investments in for a total of 2,589,847 shares, while 182 institutional investors sold positions of 3,464,240 shares during the same period.