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. Entergy Corp. shares valued at $874,140 were sold by Brown Marcus V on Mar 15 ’24. At $102.84 per share, Brown Marcus V sold 8,500 shares. The insider’s holdings dropped to 9,911 shares worth approximately $1.03 million following the completion of this transaction.
Also, RODRIGUEZ DEANNA D. sold 1,500 shares, netting a total of over 151,845 in proceeds. Following the sale of shares at $101.23 each, the insider now holds 3,442 shares.
Before that, COOK-NELSON KIMBERLY had sold 2,000 shares from its account. In a trade valued at $200,700, the EVP & Chief Nuclear Officer traded Entergy Corp. shares for $100.35 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $1.67 million.
As published in a research note from BofA Securities on November 21, 2023, Entergy Corp. [ETR] has been rated up from a Neutral to a Buy and the price target has been revised to $110 from $94. Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in early November. As of November 06, 2023, UBS has increased its “Neutral” rating to a “Buy” for ETR. Earlier on October 05, 2023, KeyBanc Capital Markets upgraded its rating. Their new recommendation was “an Overweight” for ETR stock which previously was a “a Sector weight”.
Analyzing ETR Stock Performance
During the last five days, there has been a drop of approximately -0.47%. Over the course of the year, Entergy Corp. shares have jumped approximately 2.61%. Shares of the company reached a 52-week high of $106.48 on 04/09/24 and a 52-week low of $96.15 on 02/13/24. A 50-day SMA is recorded $102.02, while a 200-day SMA reached $99.05. Nevertheless, trading volume fell to 1.06 million shares from 1.66 million shares the previous day.
Support And Resistance Levels for Entergy Corp. (ETR)
According to the 24-hour chart, there is a support level at 103.09, which, if violated, would cause prices to drop to 102.34. In the upper region, resistance lies at 104.87. The next price resistance is at 105.90. RSI (Relative Strength Index) is 50.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.43, which suggests the price will decrease in the coming days. Percent R is at 61.20%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Entergy Corp. subject to short interest?
Stocks of Entergy Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.21 million shares to 2.39 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.6 million shares. A decline of -8.79% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.86 of the overall float, the days-to-cover ratio (short ratio) decline to 1.86.
