Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. WEC Energy Group Inc shares valued at $2,925,605 were sold by KLAPPA GALE E on Feb 29 ’24. At $78.69 per share, KLAPPA GALE E sold 37,180 shares. The insider’s holdings dropped to 274,782 shares worth approximately $21.56 million following the completion of this transaction.
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Also, Lauber Scott J sold 2,830 shares, netting a total of over 223,247 in proceeds. Following the sale of shares at $78.89 each, the insider now holds 43,125 shares.
Before that, PAYNE ULICE JR had sold 600 shares from its account. In a trade valued at $50,079, the Director traded WEC Energy Group Inc shares for $83.46 each. Upon closing the transaction, the insider’s holdings decreased to 600 shares, worth approximately $1.64 million.
As published in their initiating research note from Goldman on April 10, 2024, WEC Energy Group Inc [WEC] has been a Neutral and the price target has been revised to $88. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early February. As of January 04, 2024, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for WEC. Earlier on October 17, 2023, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for WEC stock which previously was a “a Buy”.
Analyzing WEC Stock Performance
During the last five days, there has been a drop of approximately -1.01%. Over the course of the year, WEC Energy Group Inc shares have dropped approximately -6.80%. Shares of the company reached a 52-week high of $86.89 on 01/04/24 and a 52-week low of $75.13 on 02/13/24. A 50-day SMA is recorded $81.50, while a 200-day SMA reached $81.58. Nevertheless, trading volume fell to 1.25 million shares from 1.42 million shares the previous day.
Support And Resistance Levels for WEC Energy Group Inc (WEC)
According to the 24-hour chart, there is a support level at 78.12, which, if violated, would cause prices to drop to 77.78. In the upper region, resistance lies at 78.70. The next price resistance is at 78.94. RSI (Relative Strength Index) is 41.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 73.94%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
