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. Centerpoint Energy Inc. shares valued at $140,496 were purchased by Foster Christopher A on Nov 29 ’23. At $28.10 per share, Foster Christopher A acquired 5,000 shares. The insider’s holdings grew to 147,693 shares worth approximately $4.29 million following the completion of this transaction.
Also, LESAR DAVID J purchased 37,000 shares, netting a total of over 1,003,440 in proceeds. Following the buying of shares at $27.12 each, the insider now holds 37,000 shares.
Before that, Wells Jason P. had added 10,000 shares to its account. In a trade valued at $269,050, the President & COO bought Centerpoint Energy Inc. shares for $26.91 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $1.62 million.
As published in a research note from Evercore ISI on January 23, 2024, Centerpoint Energy Inc. [CNP] has been rated down from an Outperform to an In-line and the price target has been revised to $30 from $29. Analysts at KeyBanc Capital Markets upgraded the stock from ‘”a Sector weight”‘ to ‘”an Overweight”‘ outlook in a report released in early October. As of August 23, 2023, Barclays has initiated its “an Underweight” rating for CNP. Earlier on July 28, 2023, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for CNP stock which previously was a “a Buy”.
Analyzing CNP Stock Performance
During the last five days, there has been a surge of approximately 4.95%. Over the course of the year, Centerpoint Energy Inc. shares have jumped approximately 1.75%. Shares of the company reached a 52-week high of $29.45 on 01/10/24 and a 52-week low of $26.90 on 04/16/24. A 50-day SMA is recorded $27.96, while a 200-day SMA reached $28.19. Nevertheless, trading volume fell to 4.11 million shares from 2.59 million shares the previous day.
Support And Resistance Levels for Centerpoint Energy Inc. (CNP)
According to the 24-hour chart, there is a support level at 28.55, which, if violated, would cause prices to drop to 28.04. In the upper region, resistance lies at 29.38. The next price resistance is at 29.70. RSI (Relative Strength Index) is 64.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.84, which suggests the price will decrease in the coming days. Percent R is at 4.82%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
