The Bank of New York Mellon Corporation (NYSE:BK) has its shares plummet by -9.77% or $5.3 from its all-time high of $54.27. The drop in the price of the shares saw it stand at $48.97 per share. BK has been trading at a low of $40.52 over the past one year but it surged by 20.85% or $8.45 to reach the $48.97 mark. Following the massive rise in stock price, BK received more attention from investors and analysts. On Sunday, the stock plunged by 0.02%, which caused investors and analysts to excite about it. Following the plunge in price, the BK beta stands at 1.12, implying that its volatility level has gone up by -0.12 ahead of the general market. A look at the stock’s 200-day moving average shows that it is 4.42% above while its 50-day moving average shows that it is currently 5.39% above. Compared to 1.26% average daily volatility of past month, the stock’s average volatility for this week has decreased by -0.0900000000000001 as the volatility level currently stands at 1.17%.
Over the past seven days, the stock has witnessed a price surge by 0.82%. This massive rise in stock price has caught the attention of both investors and market traders. The stock has performed poorly over the past 52 weeks, dropping by -5.12% during that time frame and is now up by 4.04% since this point this year. BK has surged by 5.04% over the past 30 days, with its equity price gaining% of its value over the past ninety days. These figures add up to see the stock record a growth of 13.75% over the past six months.
The stock’s technical analysis reveals that its 14-day Relative Strength Index (RSI) is currently in a neutral position as it was able to attain 65.67 points. The trading volume now standing at 3290357 shares. The decrease of -1849643 shares in trading volume shows that traders and investors have shown less interest in the stock over the past few weeks. During that trading session, the average trading volume of BK was 5140000 shares, which is more than 0.64 times higher than its usual trading volume.
Analysts have set a 1-year price target for this stock, with most of them expecting it to reach $65.28/share over the next 12 months. If that happens, then BAM would witness a 11.76% rise from its current price. Not all analysts believe it would hit that target though, as some of them expect it to trade lower, as low as $60 per share. In the same breath, one analyst believes that the stock is set to soar even higher than expected, as the price target was set at $73.
The stock has an average rating of 2.1 which means that it has been rated as a Hold by most analysts. The stock is being covered by 4 analysts who gave a consensus recommendation of 2.1 which implies that it is currently in a neutral situation. Reuters looked into analysts covering Brookfield Asset Management Inc., and 1 of them believe that the stock is a Hold at the moment. 3 of the analysts rated it as a Buy or a Strong Buy while the remaining analysts (0) rated it as a sell at the moment.