CMS Energy Corporation [CMS] Records 200-Day SMA of $57.40

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CMS Energy Corporation shares valued at $202,240 were sold by Hofmeister Brandon J. on Feb 23 ’24. At $57.78 per share, Hofmeister Brandon J. sold 3,500 shares. The insider’s holdings dropped to 68,971 shares worth approximately $4.06 million following the completion of this transaction.

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Also, Hofmeister Brandon J. sold 1,000 shares, netting a total of over 57,900 in proceeds. Following the sale of shares at $57.90 each, the insider now holds 61,156 shares.

Before that, Rich Brian F had sold 5,000 shares from its account. In a trade valued at $274,500, the Senior Vice President traded CMS Energy Corporation shares for $54.90 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $5.18 million.

As published in a research note from Guggenheim on February 02, 2024, CMS Energy Corporation [CMS] has been rated up from a Neutral to a Buy and the price target has been revised to $64 from $60. Analysts at Wolfe Research upgraded the stock from ‘”a Peer perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of January 08, 2024, Seaport Research Partners has decreased its “Buy” rating to a “Neutral” for CMS. Earlier on October 05, 2023, KeyBanc Capital Markets upgraded its rating. Their new recommendation was “an Overweight” for CMS stock which previously was a “a Sector weight”.

Analyzing CMS Stock Performance

During the last five days, there has been a drop of approximately -2.49%. Over the course of the year, CMS Energy Corporation shares have jumped approximately 1.26%. Shares of the company reached a 52-week high of $60.87 on 03/07/24 and a 52-week low of $55.10 on 02/13/24. A 50-day SMA is recorded $57.78, while a 200-day SMA reached $57.40. Nevertheless, trading volume fell to 3.04 million shares from 2.02 million shares the previous day.

Support And Resistance Levels for CMS Energy Corporation (CMS)

According to the 24-hour chart, there is a support level at 58.34, which, if violated, would cause prices to drop to 57.87. In the upper region, resistance lies at 59.62. The next price resistance is at 60.44. RSI (Relative Strength Index) is 53.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.87, which suggests the price will decrease in the coming days. Percent R is at 45.39%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is CMS Energy Corporation subject to short interest?

Stocks of CMS Energy Corporation saw a sharp rise in short interest on Feb 29, 2024 jumping by 1.0 million shares to 11.54 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 10.54 million shares. A jump of 8.67% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.84.

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