Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Clearway Energy Inc shares valued at $4,502,833 were purchased by TotalEnergies SE on Mar 28 ’24. At $22.86 per share, TotalEnergies SE acquired 196,964 shares. The insider’s holdings grew to 295,235 shares worth approximately $6.93 million following the completion of this transaction.
Also, Global Infrastructure Investor purchased 196,964 shares, netting a total of over 4,502,833 in proceeds. Following the buying of shares at $22.86 each, the insider now holds 295,235 shares.
Before that, Sotos Christopher S had added 4,000 shares to its account. In a trade valued at $94,720, the PRESIDENT AND CEO bought Clearway Energy Inc shares for $23.68 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $0.73 million.
As published in a research note from BofA Securities on October 06, 2023, Clearway Energy Inc [CWEN] has been rated up from a Neutral to a Buy and the price target has been revised to $27 from $29. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid September. As of June 10, 2022, CIBC has initiated its “Neutral” rating for CWEN. Earlier on November 05, 2021, Oppenheimer upgraded its rating. Their new recommendation was “an Outperform” for CWEN stock which previously was a “a Perform”.
Analyzing CWEN Stock Performance
During the last five days, there has been a surge of approximately 4.78%. Over the course of the year, Clearway Energy Inc shares have dropped approximately -14.47%. Shares of the company reached a 52-week high of $27.68 on 01/02/24 and a 52-week low of $20.63 on 03/14/24. A 50-day SMA is recorded $22.77, while a 200-day SMA reached $24.29. Nevertheless, trading volume fell to 0.77 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for Clearway Energy Inc (CWEN)
According to the 24-hour chart, there is a support level at 23.20, which, if violated, would cause prices to drop to 22.95. In the upper region, resistance lies at 23.86. The next price resistance is at 24.27. RSI (Relative Strength Index) is 63.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.48, which suggests the price will increase in the coming days. Percent R is at 17.08%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Clearway Energy Inc subject to short interest?
Stocks of Clearway Energy Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.32 million shares to 2.22 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.54 million shares. A decline of -14.41% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.39 of the overall float, the days-to-cover ratio (short ratio) decline to 2.39.
