Stock to Buy: The Blackstone Group Inc. (NYSE:BX)

The BX stock price fluctuated between $114.77 and $116.06 throughout the trading session with the volume trading being 766231 shares, which represented a negative variation when compared to the three months average volume of 4M shares.

The share price of The Blackstone Group Inc. (NYSE:BX) dipped -1.01% to close Friday’s market session at $114.83, lower as compared to yesterday’s close which brings the market valuation of the company to $82.71B.

The 52-week high for the The Blackstone Group Inc.’s shares is $117.15. That puts it -1.98% from that peak but still a 119.03% gain since the share price dropped to a 52-week low of $49.26, while the S&P 500’s share price change was of 35.10%.

The company currently has a 17.87 P/E ratio and a price target of $98.54.

What does the trading volume tell us about the BX stock?

During the last trading session, The Blackstone Group Inc. (NYSE:BX) has seen decay in its daily volume. The daily volume was of 4M, while in the last 10 days the average was 3.83M and last three months – 4.09M.
The decreasing interest in the BX stock from the investors is helping to drive the stock price down.

Growing short interest

The The Blackstone Group Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 13.58M shares being shorted which translates into 2.52 of a short ratio for BX, while in the previous month the shorted shares were 10.04M.

The Blackstone Group Inc. (NYSE:BX)’s financials

With a market cap of 82.71B, The Blackstone Group Inc. holds a total cash of $2.47B that translates into $3.42 per share, while the total debt is of $6.49B.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 106.10%. The current revenue is of $17.33B that is $24.20 per share.
This is a great sign for a bright future.