Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. DTE Energy Co. shares valued at $514,810 were sold by Richard Robert A. on Feb 27 ’24. At $107.25 per share, Richard Robert A. sold 4,800 shares. The insider’s holdings dropped to 26,118 shares worth approximately $2.77 million following the completion of this transaction.
Also, Harris Joi M. sold 3,000 shares, netting a total of over 325,470 in proceeds. Following the sale of shares at $108.49 each, the insider now holds 18,961 shares.
Before that, Myrick Tracy J had sold 600 shares from its account. In a trade valued at $64,224, the Chief Accounting Officer traded DTE Energy Co. shares for $107.04 each. Upon closing the transaction, the insider’s holdings decreased to 600 shares, worth approximately $0.37 million.
As published in a research note from Guggenheim on January 22, 2024, DTE Energy Co. [DTE] has been rated down from a Buy to a Neutral and the price target has been revised to $111. Analysts at Wolfe Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Peer perform”‘ outlook in a report released in mid January. As of January 08, 2024, Seaport Research Partners has decreased its “Buy” rating to a “Neutral” for DTE. Earlier on October 05, 2023, KeyBanc Capital Markets upgraded its rating. Their new recommendation was “an Overweight” for DTE stock which previously was a “a Sector weight”.
Analyzing DTE Stock Performance
During the last five days, there has been a drop of approximately -3.13%. Over the course of the year, DTE Energy Co. shares have dropped approximately -3.75%. Shares of the company reached a 52-week high of $114.05 on 03/11/24 and a 52-week low of $102.17 on 01/24/24. A 50-day SMA is recorded $108.43, while a 200-day SMA reached $106.18. Nevertheless, trading volume fell to 1.01 million shares from 1.44 million shares the previous day.
Support And Resistance Levels for DTE Energy Co. (DTE)
According to the 24-hour chart, there is a support level at 105.26, which, if violated, would cause prices to drop to 104.38. In the upper region, resistance lies at 107.17. The next price resistance is at 108.20. RSI (Relative Strength Index) is 38.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.79, which suggests the price will decrease in the coming days. Percent R is at 89.97%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is DTE Energy Co. subject to short interest?
Stocks of DTE Energy Co. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.6 million shares to 3.44 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.84 million shares. A jump of 17.44% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.79.
