Investing in Constellation Energy Corporation (CEG) Is Getting More Attractive


Taking this into account, Credit Suisse downgraded its Constellation Energy Corporation [CEG] rating to a Neutral from a an Outperform in a research note published on Tuesday, February 22, 2023; the price target was decreased to $83 from $91. PT values the company’s stock at a premium of 6.14 to its Tuesday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in late February from “a Buy” to “a Neutral”. RBC Capital Mkts also remained covering CEG and has decreased its forecast on January 17, 2023 with a “Sector perform” recommendation from previously “an Outperform” rating. Credit Suisse started covering the stock on October 03, 2022. It rated CEG as “an Outperform”.

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Price Performance Review of CEG

On Tuesday, Constellation Energy Corporation [NASDAQ:CEG] saw its stock fall -1.14% to $77.90. On the same session, the stock had its day’s lowest price of $77.32, but rose to a high of $79.07. Over the last five days, the stock has gained 4.02%. Constellation Energy Corporation shares have fallen nearly -9.64% since the year began. Nevertheless, the stocks have risen 52.75% over the past one year. While a 52-week high of $97.89 was reached on 02/16/23, a 52-week low of $48.29 was recorded on 03/01/23. SMA at 50 days reached $83.17, while 200 days put it at $78.82. A total of 2.18 million shares were traded, compared to the trading of 2.3 million shares in the previous session.

Levels Of Support And Resistance For CEG Stock

The 24-hour chart illustrates a support level at 77.12, which if violated will result in even more drops to 76.35. On the upside, there is a resistance level at 78.87. A further resistance level may holdings at 79.85. The Relative Strength Index (RSI) on the 14-day chart is 41.19, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.40%. Stochastics %K at 37.97% indicates the stock is a holding.

How much short interest is there in Constellation Energy Corporation?

A steep rise in short interest was recorded in Constellation Energy Corporation stocks on Jan 30, 2023, growing by 0.51 million shares to a total of 4.86 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 4.35 million shares. There was a rise of 10.49%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.49% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.46.

Constellation Energy Corporation [CEG] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 37,091,996 shares, or roughly 11.34% of the outstanding CEG shares. In other words, the investor’s shares have fallen by -116,057 from its previous 13-F filing of 37208053.0. Additionally, Capital Research & Management Co increased 4.57% of its stake after which the total value it holdings stand at $2,058,885,334, while Fidelity Management & Research Co added 3.17% of its stake to hold $1.69 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -483,150 shares of Constellation Energy Corporation, while BlackRock Fund Advisors sold 1,749,949 shares. At present, Wellington Management Co. LLP is holding 11,586,256 shares valued at $989.0 million. Geode Capital Management LLC owned 6,895,456 shares of the company at the time of its most recent 13F filing, worth $588.6 million.

According to FactSet, Constellation Energy Corporation’s share price will average $97.77 in the next year, based on opinions of analysts polled by the firm. This is up nearly 23.1 percent from its previous closing price of $78.80. Analysts expect Constellation Energy Corporation stock to reach the higher price of $115.00, while the lowest price estimate is $83.00.


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