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. Firstenergy Corp. shares valued at $469,781 were sold by Walker Christine on Nov 27 ’23. At $37.58 per share, Walker Christine sold 12,500 shares. The insider’s holdings dropped to 36,959 shares worth approximately $1.39 million following the completion of this transaction.
As published in their initiating research note from Goldman on April 10, 2024, Firstenergy Corp. [FE] has been a Buy and the price target has been revised to $45. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in late August. As of August 07, 2023, UBS has decreased its “Buy” rating to a “Neutral” for FE. Earlier on January 23, 2023, Guggenheim upgraded its rating. Their new recommendation was “a Buy” for FE stock which previously was a “a Neutral”.
Analyzing FE Stock Performance
During the last five days, there has been a drop of approximately -1.70%. Over the course of the year, Firstenergy Corp. shares have jumped approximately 2.62%. Shares of the company reached a 52-week high of $38.81 on 01/10/24 and a 52-week low of $35.41 on 02/08/24. A 50-day SMA is recorded $37.54, while a 200-day SMA reached $37.02. Nevertheless, trading volume fell to 2.11 million shares from 2.92 million shares the previous day.
Support And Resistance Levels for Firstenergy Corp. (FE)
According to the 24-hour chart, there is a support level at 37.43, which, if violated, would cause prices to drop to 37.25. In the upper region, resistance lies at 37.93. The next price resistance is at 38.25. RSI (Relative Strength Index) is 45.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.24, which suggests the price will decrease in the coming days. Percent R is at 94.87%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Firstenergy Corp. subject to short interest?
Stocks of Firstenergy Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.89 million shares to 11.63 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 12.52 million shares. A decline of -7.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.3 of the overall float, the days-to-cover ratio (short ratio) decline to 4.3.
