why Baker Hughes Company [BKR] is a Good Choice for Investors After New Price Target of $37.10

Baker Hughes Company [NASDAQ: BKR] loss -1.61% or -0.52 points to close at $31.75 with a heavy trading volume of 4041263 shares. The company report on March 7, 2023 that Baker Hughes and HIF Global to Collaborate on Direct Air Capture Technology.

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Agreement enables pilot testing to more quickly scale-up deployment of Direct Air Capture solutions.

It opened the trading session at $32.13, the shares rose to $32.27 and dropped to $31.73, the range by which the price of stock traded the whole day. The daily chart for BKR points out that the company has recorded 25.59% gains over the past six months. However, it is still -55.48% lower than its most recent low trading price.

If we look at the average trading volume of 6.94M shares, BKR reached to a volume of 4041263 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $37.10 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.

Piper Sandler have made an estimate for Baker Hughes Company shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 16, 2023. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on January 19, 2023, representing the official price target for Baker Hughes Company stock. Previously, the target price had yet another raise to $29, while Wells Fargo analysts kept a Equal Weight rating on BKR stock.

The Average True Range (ATR) for Baker Hughes Company is set at 0.86, with the Price to Sales ratio for BKR stock in the period of the last 12 months amounting to 1.49. The Price to Book ratio for the last quarter was 2.20, with the Price to Cash per share for the same quarter was set at 3.07. Price to Free Cash Flow for BKR in the course of the last twelve months was 182.31 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for BKR stock

Baker Hughes Company [BKR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.76. With this latest performance, BKR shares gained by 1.21% in over the last four-week period, additionally plugging by 25.59% over the last 6 months – not to mention a drop of -4.43% 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 53.68, with the RSI for the last a single of trading hit 54.25, and the three-weeks RSI is set at 53.83 for Baker Hughes Company [BKR]. The present Moving Average for the last 50 days of trading for this stock 30.90, while it was recorded at 31.82 for the last single week of trading, and 28.44 for the last 200 days.

Baker Hughes Company [BKR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Baker Hughes Company [BKR] shares currently have an operating margin of +8.76 and a Gross Margin at +23.26. Baker Hughes Company’s Net Margin is presently recorded at -2.84.

Return on Equity for this stock declined to -4.11, with Return on Assets sitting at -1.73.

Baker Hughes Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.30.

Baker Hughes Company [BKR]: An earnings per share (EPS) analysis

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 49.30%.

An analysis of insider ownership at Baker Hughes Company [BKR]

There are presently around $30,538 million, or 98.53% of BKR stock, in the hands of institutional investors. The top three institutional holders of BKR stocks are: VANGUARD GROUP INC with ownership of 119,934,155, which is approximately 0.476% of the company’s market cap and around 0.14% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 116,385,242 shares of the stock with an approximate value of $3.7 billion in BKR stocks shares; and CAPITAL WORLD INVESTORS, currently with $3.24 billion in BKR stock with ownership of nearly -9.925% of the company’s market capitalization.

374 institutional holders increased their position in Baker Hughes Company [NASDAQ:BKR] by around 50,132,998 shares. Additionally, 282 investors decreased positions by around 99,373,594 shares, while 81 investors held positions by with 812,318,729 shares. The mentioned changes placed institutional holdings at 961,825,321 shares, according to the latest SEC report filing. BKR stock had 138 new institutional investments in for a total of 9,708,200 shares, while 56 institutional investors sold positions of 5,076,091 shares during the same period.


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