Baker Hughes Incorporated (BHI) : Net money flow in Baker Hughes Incorporated (BHI) was negative ($20.93 million) and the inflow of money on uptick was $16.18 million, whereas, the outflow of money on downticks amounted to $37.11 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.44. The block trades show that the large investors, were aggressive sellers in the stock. The total value of block trades on upticks was only $1.47 million. On the other hand, the total value of block trades done on downticks was $20.99 million. The ratio of uptick to downtick block trades was 0.07. The money flow in block trades was negative ($19.52). Baker Hughes Incorporated (BHI) gained $0.08 cent during the day and reached $45.82, a gain of 0.17% over the previous day.
Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Baker Hughes Incorporated (NYSE:BHI). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm lowers the price target from $54 per share to $52 per share. The rating by the firm was issued on July 13, 2016.
Baker Hughes Incorporated (NYSE:BHI): The stock opened at $45.66 on Wednesday but the bulls could not build on the opening and the stock topped out at $46.01 for the day. The stock traded down to $45.26 during the day, due to lack of any buying support eventually closed down at $45.71 with a loss of -0.07% for the day. The stock had closed at $45.74 on the previous day. The total traded volume was 2,955,848 shares.
The stock has recorded a 20-day Moving Average of 1.38% and the 50-Day Moving Average is 0.27%. In a related news,The officer (VP, General Counsel) of Baker Hughes Inc, Marsh William D sold 1,500 shares at $49.1 on June 6, 2016. The Insider selling transaction had a total value worth of $73,650. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems to the around the world oil and natural gas industry. The Company also provides industrial products and services to the downstream chemicals, and process and pipeline services. It conducts its operations through subsidiaries, affiliates, ventures and alliances. The Company has four geographical operating segments: North America, Latin America, Europe/Africa/Russia Caspian and Middle East/Asia Pacific. The Company also has an Industrial Services segment, which includes the downstream chemicals business and the process and pipeline services business. The Companys Integrated Operations is focused on the execution of projects that have attributes, such as project management, well site supervision, well construction, intervention, third-party contractor management, procurement and rig management.