The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Edison International shares valued at $7,692 were purchased by CHANG VANESSA C L on May 02. At $69.30 per share, CHANG VANESSA C L acquired 111 shares. The insider’s holdings grew to 6,178 shares worth approximately $0.42 million following the completion of this transaction.
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Also, CHANG VANESSA C L purchased 155 shares, netting a total of over 10,413 in proceeds. Following the buying of shares at $67.18 each, the insider now holds 6,011 shares.
Before that, CHANG VANESSA C L had added 200 shares to its account. In a trade valued at $13,234, the Director bought Edison International shares for $66.17 each. Upon closing the transaction, the insider’s holdings increased to 200 shares, worth approximately $0.4 million.
As published in a research note from Morgan Stanley on September 06, 2022, Edison International [EIX] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $62 from $69. This represents a -10.16% premium over Thursday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in mid July. As of June 06, 2022, UBS has decreased its “Buy” rating to a “Neutral” for EIX. Earlier on May 10, 2022, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for EIX stock which previously was a “a Buy”.
Analyzing EIX’s Price Performance
On Thursday, Edison International [NYSE: EIX] plunged -1.71% to $68.30. The stock’s lowest price that day was $68.125, but it reached a high of $69.33 in the same session. During the last five days, there has been a drop of approximately -0.34%. Over the course of the year, Edison International shares have jumped approximately 0.07%. Shares of the company reached a 52-week high of $73.32 on 04/21/22 and a 52-week low of $57.86 on 02/24/22. A 50-day SMA is recorded $66.95, while a 200-day SMA reached $66.20. Nevertheless, trading volume fell to 2.05 million shares from 1.88 million shares the previous day.
Support And Resistance Levels for Edison International (EIX)
According to the 24-hour chart, there is a support level at 67.84, which, if violated, would cause prices to drop to 67.38. In the upper region, resistance lies at 69.05. The next price resistance is at 69.79. RSI (Relative Strength Index) is 48.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.25, which suggests the price will decrease in the coming days. Percent R is at 48.62%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Edison International subject to short interest?
Stocks of Edison International saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.11 million shares to 4.93 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.82 million shares. A jump of 2.23% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.04 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.04.
Which companies own the most shares of Edison International (EIX)?
According to The Vanguard Group, Inc. filings, the company currently owns 43,768,778 shares, which is about 11.48% of the total EIX shares outstanding. The investor’s shares have appreciated by 884,245 from its previous 13-F filing of 42884533.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $1,945,241,413. BlackRock Fund Advisors acquire a 5.15% interest valued at $1.62 billion while Capital Research & Management Co purchased a 2,306,462 stake. A total of 109,162 shares of Edison International were bought by Capital Research & Management Co during the quarter, and -711,129 were sold by Pzena Investment Management LLC. In its current portfolio, Franklin Advisers, Inc. holds 11,695,118 shares valued at $792.58 million.
In terms of Edison International share price expectations, FactSet research, analysts set an average price target of $73.47 in the next 12 months, up nearly 5.05% from the previous closing price of $69.49. Analysts anticipate Edison International stock to reach $82.00 by 2022, with the lowest price target being $62.00. In spite of this, 18 analysts ranked Edison International stock as an Overweight at the end of 2022. On July 13, 2021, BofA Securities assigned a price target of “a Neutral” to the stock and downgraded coverage with a $59.