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. Edison International shares valued at $3,382,274 were sold by Murphy J Andrew on May 14 ’24. At $75.14 per share, Murphy J Andrew sold 45,012 shares. The insider’s holdings dropped to 19,660 shares worth approximately $1.46 million following the completion of this transaction.
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Also, Murphy J Andrew sold 9,794 shares, netting a total of over 735,277 in proceeds. Following the sale of shares at $75.07 each, the insider now holds 19,660 shares.
Before that, Murphy J Andrew had sold 58,099 shares from its account. In a trade valued at $4,358,244, the PRESIDENT & CEO, EDISON ENERGY traded Edison International shares for $75.01 each. Upon closing the transaction, the insider’s holdings decreased to 58,099 shares, worth approximately $1.46 million.
As published in their initiating research note from Goldman on April 10, 2024, Edison International [EIX] has been a Neutral and the price target has been revised to $78. Analysts at Guggenheim upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late January. As of October 23, 2023, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for EIX. Earlier on August 23, 2023, Barclays initiated its rating. Their recommendation was “an Equal weight” for EIX stock.
Analyzing EIX Stock Performance
During the last five days, there has been a drop of approximately -2.12%. Over the course of the year, Edison International shares have jumped approximately 3.86%. Shares of the company reached a 52-week high of $76.83 on 05/21/24 and a 52-week low of $63.15 on 02/13/24. A 50-day SMA is recorded $71.29, while a 200-day SMA reached $68.32. Nevertheless, trading volume fell to 1.84 million shares from 1.2 million shares the previous day.
Support And Resistance Levels for Edison International (EIX)
According to the 24-hour chart, there is a support level at 73.88, which, if violated, would cause prices to drop to 73.51. In the upper region, resistance lies at 74.91. The next price resistance is at 75.57. RSI (Relative Strength Index) is 55.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.50, which suggests the price will decrease in the coming days. Percent R is at 55.01%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
