WEC Energy Group Inc’s recently made public that its Executive Chairman KLAPPA GALE E unloaded Company’s shares for reported $2.93 million on Feb 29 ’24. In the deal valued at $78.69 per share,37,180 shares were sold. As a result of this transaction, KLAPPA GALE E now holds 274,782 shares worth roughly $22.35 million.
Then, Lauber Scott J sold 2,830 shares, generating $223,247 in total proceeds. Upon selling the shares at $78.89, the President and CEO now owns 43,125 shares.
Before that, PAYNE ULICE JR sold 600 shares. WEC Energy Group Inc shares valued at $50,079 were divested by the Director at a price of $83.46 per share. As a result of the transaction, PAYNE ULICE JR now holds 20,933 shares, worth roughly $1.7 million.
JP Morgan downgraded its WEC Energy Group Inc [WEC] rating to an Underweight from a a Neutral in a research note published on February 02, 2024; the price target was decreased to $84 from $90. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early January from “a Neutral” to “an Underperform”. BofA Securities also remained covering WEC and has decreased its forecast on October 17, 2023 with a “Neutral” recommendation from previously “Buy” rating. RBC Capital Mkts started covering the stock on September 27, 2023. It rated WEC as “a Sector perform”.
Price Performance Review of WEC
On Monday, WEC Energy Group Inc [NYSE:WEC] saw its stock jump 1.31% to $81.33. Over the last five days, the stock has lost -0.28%. WEC Energy Group Inc shares have fallen nearly -3.37% since the year began. Nevertheless, the stocks have fallen -17.30% over the past one year. While a 52-week high of $99.26 was reached on 01/04/24, a 52-week low of $75.13 was recorded on 02/13/24. SMA at 50 days reached $79.67, while 200 days put it at $83.36. A total of 1.19 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For WEC Stock
The 24-hour chart illustrates a support level at 80.50, which if violated will result in even more drops to 79.68. On the upside, there is a resistance level at 81.83. A further resistance level may holdings at 82.34. The Relative Strength Index (RSI) on the 14-day chart is 54.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.81%. Stochastics %K at 57.35% indicates the stock is a holding.
How much short interest is there in WEC Energy Group Inc?
A steep rise in short interest was recorded in WEC Energy Group Inc stocks on Mar 15, 2024, growing by 0.68 million shares to a total of 8.62 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 7.94 million shares. There was a rise of 7.89%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.31.
The most recent change occurred on September 11, 2023 when Ladenburg Thalmann began covering the stock and recommended ‘”a Neutral”‘ rating along with a $85 price target.
