Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Essential Utilities Inc shares valued at $207,074 were sold by RUBIN ROBERT A on Apr 01 ’24. At $37.21 per share, RUBIN ROBERT A sold 5,565 shares. The insider’s holdings dropped to 57,756 shares worth approximately $2.11 million following the completion of this transaction.
Also, RUBIN ROBERT A sold 3,551 shares, netting a total of over 127,836 in proceeds. Following the sale of shares at $36.00 each, the insider now holds 63,321 shares.
Before that, Amato Elizabeth B had added 3,100 shares to its account. In a trade valued at $108,559, the Director bought Essential Utilities Inc shares for $35.02 each. Upon closing the transaction, the insider’s holdings increased to 3,100 shares, worth approximately $0.59 million.
As published in a research note from Edward Jones on November 03, 2023, Essential Utilities Inc [WTRG] has been rated up from a Hold to a Buy. Analysts at Northcoast upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late September. As of May 18, 2023, Northcoast has decreased its “Buy” rating to a “Neutral” for WTRG. Earlier on February 06, 2023, UBS upgraded its rating. Their new recommendation was “a Buy” for WTRG stock which previously was a “a Neutral”.
Analyzing WTRG Stock Performance
During the last five days, there has been a drop of approximately -0.82%. Over the course of the year, Essential Utilities Inc shares have dropped approximately -2.28%. Shares of the company reached a 52-week high of $38.90 on 01/11/24 and a 52-week low of $33.94 on 02/26/24. A 50-day SMA is recorded $35.84, while a 200-day SMA reached $36.80. Nevertheless, trading volume fell to 1.03 million shares from 0.99 million shares the previous day.
Support And Resistance Levels for Essential Utilities Inc (WTRG)
According to the 24-hour chart, there is a support level at 36.25, which, if violated, would cause prices to drop to 35.99. In the upper region, resistance lies at 36.66. The next price resistance is at 36.82. RSI (Relative Strength Index) is 53.58 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 41.76%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Essential Utilities Inc subject to short interest?
Stocks of Essential Utilities Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by 20000.0 shares to 5.93 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.95 million shares. A decline of -0.34% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.07 of the overall float, the days-to-cover ratio (short ratio) decline to 3.07.
