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 $2,604,395 were sold by Murphy J Andrew on Jul 31 ’24. At $80.12 per share, Murphy J Andrew sold 32,505 shares. The insider’s holdings dropped to 19,660 shares worth approximately $1.61 million following the completion of this transaction.
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Also, Schilling Natalie K sold 2,341 shares, netting a total of over 187,285 in proceeds. Following the sale of shares at $80.00 each, the insider now holds 6,338 shares.
Before that, Murphy J Andrew had sold 28,995 shares from its account. In a trade valued at $2,273,962, the PRESIDENT & CEO, EDISON ENERGY traded Edison International shares for $78.43 each. Upon closing the transaction, the insider’s holdings decreased to 28,995 shares, worth approximately $1.61 million.
As published in a research note from UBS on July 19, 2024, Edison International [EIX] has been rated down from a Buy to a Neutral and the price target has been revised to $82 from $83. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in early April. As of January 22, 2024, Guggenheim has increased its “Neutral” rating to a “Buy” for EIX. Earlier on October 23, 2023, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for EIX stock which previously was a “an In-line”.
Analyzing EIX Stock Performance
During the last five days, there has been a surge of approximately 0.15%. Over the course of the year, Edison International shares have jumped approximately 14.32%. Shares of the company reached a 52-week high of $83.05 on 08/02/24 and a 52-week low of $63.15 on 02/13/24. A 50-day SMA is recorded $74.97, while a 200-day SMA reached $70.28. Nevertheless, trading volume fell to 2.26 million shares from 1.48 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 80.87, which, if violated, would cause prices to drop to 80.01. In the upper region, resistance lies at 82.50. The next price resistance is at 83.26. RSI (Relative Strength Index) is 71.58 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.48, which suggests the price will increase in the coming days. Percent R is at 15.53%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
