In a filing, CMS Energy Corporation revealed its Senior Vice President Hofmeister Brandon J. unloaded Company’s shares for reported $0.2 million on Feb 23 ’24. In the deal valued at $57.78 per share,3,500 shares were sold. As a result of this transaction, Hofmeister Brandon J. now holds 68,971 shares worth roughly $4.04 million.
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Then, Hofmeister Brandon J. sold 1,000 shares, generating $57,900 in total proceeds. Upon selling the shares at $57.90, the Senior Vice President now owns 61,156 shares.
Before that, Rich Brian F sold 5,000 shares. CMS Energy Corporation shares valued at $274,500 were divested by the Senior Vice President at a price of $54.90 per share. As a result of the transaction, Rich Brian F now holds 88,175 shares, worth roughly $5.17 million.
Guggenheim upgraded its CMS Energy Corporation [CMS] rating to a Buy from a a Neutral in a research note published on February 02, 2024; the price target was increased to $64 from $60. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who increased its forecast for the stock in mid January from “a Peer perform” to “an Outperform”. Seaport Research Partners also remained covering CMS and has decreased its forecast on January 08, 2024 with a “Neutral” recommendation from previously “Buy” rating. KeyBanc Capital Markets revised its rating on October 05, 2023. It rated CMS as “an Overweight” which previously was an “a Sector weight”.
Price Performance Review of CMS
On Monday, CMS Energy Corporation [NYSE:CMS] saw its stock fall -0.61% to $58.61. Over the last five days, the stock has gained 0.53%. CMS Energy Corporation shares have risen nearly 0.93% since the year began. Nevertheless, the stocks have risen 1.12% over the past one year. While a 52-week high of $63.76 was reached on 03/07/24, a 52-week low of $49.87 was recorded on 02/13/24. SMA at 50 days reached $57.67, while 200 days put it at $57.41. A total of 1.85 million shares were traded, compared to the trading of 2.73 million shares in the previous session.
Levels Of Support And Resistance For CMS Stock
The 24-hour chart illustrates a support level at 58.22, which if violated will result in even more drops to 57.84. On the upside, there is a resistance level at 59.13. A further resistance level may holdings at 59.64. The Relative Strength Index (RSI) on the 14-day chart is 51.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.32%. Stochastics %K at 34.87% indicates the stock is a holding.
How much short interest is there in CMS Energy Corporation?
A steep rise in short interest was recorded in CMS Energy Corporation stocks on Feb 29, 2024, growing by 1.0 million shares to a total of 11.54 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 10.54 million shares. There was a rise of 8.67%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.46% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.84.
The most recent change occurred on August 23, 2023 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $58 price target.
