Eversource Energy [NYSE: ES] Sees Decrease in Stock Value

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eversource Energy shares valued at $147,913 were sold by VAN FAASEN WILLIAM C on Jan 18. At $54.50 per share, VAN FAASEN WILLIAM C sold 2,714 shares. The insider’s holdings dropped to 19,619 shares worth approximately $1.06 million following the completion of this transaction.

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Also, BUTLER GREGORY B sold 15,000 shares, netting a total of over 963,795 in proceeds. Following the sale of shares at $64.25 each, the insider now holds 63,554 shares.

Before that, FORRY LINDA DORCENA had sold 1,554 shares from its account. In a trade valued at $116,594, the Trustee traded Eversource Energy shares for $75.03 each. Upon closing the transaction, the insider’s holdings decreased to 1,554 shares, worth approximately $0.45 million.

As published in a research note from Guggenheim on January 22, 2024, Eversource Energy [ES] has been rated up from a Neutral to a Buy and the price target has been revised to $72.

Analyzing ES Stock Performance

During the last five days, there has been a surge of approximately 1.99%. Over the course of the year, Eversource Energy shares have dropped approximately -12.15%. Shares of the company reached a 52-week high of $64.64 on 01/03/24 and a 52-week low of $52.09 on 01/23/24. A 50-day SMA is recorded $59.09, while a 200-day SMA reached $64.66. Nevertheless, trading volume fell to 6.07 million shares from 3.61 million shares the previous day.

Support And Resistance Levels for Eversource Energy (ES)

According to the 24-hour chart, there is a support level at 53.69, which, if violated, would cause prices to drop to 53.17. In the upper region, resistance lies at 55.11. The next price resistance is at 56.01. RSI (Relative Strength Index) is 36.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 65.31%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Eversource Energy subject to short interest?

Stocks of Eversource Energy saw a sharp rise in short interest on Jan 11, 2024 jumping by 100000.0 shares to 4.43 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 4.33 million shares. A jump of 2.26% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.69 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.69.

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