The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. AES Corp. shares valued at $409,206 were sold by Mendoza Tish on Dec 13 ’23. At $18.95 per share, Mendoza Tish sold 21,594 shares. The insider’s holdings dropped to 167,261 shares worth approximately $2.96 million following the completion of this transaction.
Also, AES CORP sold 7,087,500 shares, netting a total of over 156,279,375 in proceeds. Following the sale of shares at $22.05 each, the insider now holds 0 shares.
Before that, Falu Ricardo Manuel had added 2,450 shares to its account. In a trade valued at $39,935, the SVP, COO, Pres. New Enrgy Tech bought AES Corp. shares for $16.30 each. Upon closing the transaction, the insider’s holdings increased to 2,450 shares, worth approximately $1.1 million.
As published in a research note from UBS on October 06, 2023, AES Corp. [AES] has been rated down from a Buy to a Neutral and the price target has been revised to $13 from $22. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in late August. As of June 22, 2023, BofA Securities has decreased its “Buy” rating to a “Neutral” for AES. Earlier on April 17, 2023, Wolfe Research downgraded its rating. Their new recommendation was “a Peer perform” for AES stock which previously was a “an Outperform”.
Analyzing AES Stock Performance
During the last five days, there has been a drop of approximately -1.23%. Over the course of the year, AES Corp. shares have dropped approximately -8.16%. Shares of the company reached a 52-week high of $19.53 on 01/02/24 and a 52-week low of $14.69 on 02/27/24. A 50-day SMA is recorded $16.46, while a 200-day SMA reached $17.46. Nevertheless, trading volume fell to 6.84 million shares from 7.81 million shares the previous day.
Support And Resistance Levels for AES Corp. (AES)
According to the 24-hour chart, there is a support level at 17.41, which, if violated, would cause prices to drop to 17.15. In the upper region, resistance lies at 17.88. The next price resistance is at 18.09. RSI (Relative Strength Index) is 59.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.62, which suggests the price will decrease in the coming days. Percent R is at 30.74%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
Is AES Corp. subject to short interest?
Stocks of AES Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 2.39 million shares to 13.81 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 11.42 million shares. A jump of 17.31% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.12.
