Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Consolidated Edison, Inc. shares valued at $96 were purchased by Miller Joseph on Jun 14 ’24. At $90.27 per share, Miller Joseph acquired 1 shares. The insider’s holdings grew to 1,184 shares worth approximately $0.12 million following the completion of this transaction.
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Also, KILLIAN JOHN F sold 1,500 shares, netting a total of over 145,680 in proceeds. Following the sale of shares at $97.12 each, the insider now holds 38,496 shares.
Before that, Sanchez Robert had added 24 shares to its account. In a trade valued at $2,311, the Pres. CECONY, Shared Services bought Consolidated Edison, Inc. shares for $94.40 each. Upon closing the transaction, the insider’s holdings increased to 24 shares, worth approximately $1.42 million.
As published in a research note from Barclays on July 22, 2024, Consolidated Edison, Inc. [ED] has been rated down from an Equal weight to an Underweight and the price target has been revised to $92 from $97. Analysts at KeyBanc Capital Markets upgraded the stock from ‘”an Underweight”‘ to ‘”a Sector weight”‘ outlook in a report released in early January. As of January 03, 2024, Ladenburg Thalmann has initiated its “Neutral” rating for ED. Earlier on October 17, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Equal weight” for ED stock which previously was a “an Underweight”.
Analyzing ED Stock Performance
During the last five days, there has been a surge of approximately 3.39%. Over the course of the year, Consolidated Edison, Inc. shares have jumped approximately 14.09%. Shares of the company reached a 52-week high of $105.99 on 08/02/24 and a 52-week low of $85.85 on 03/01/24. A 50-day SMA is recorded $96.70, while a 200-day SMA reached $92.56. Nevertheless, trading volume fell to 1.5 million shares from 1.31 million shares the previous day.
Support And Resistance Levels for Consolidated Edison, Inc. (ED)
According to the 24-hour chart, there is a support level at 103.08, which, if violated, would cause prices to drop to 102.38. In the upper region, resistance lies at 104.89. The next price resistance is at 106.00. RSI (Relative Strength Index) is 67.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.60, which suggests the price will increase in the coming days. Percent R is at 23.75%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
