Meanwhile, JP Morgan initiated its Constellation Energy Corporation [CEG] rating to an Overweight in a research note published on October 17, 2024; the price target was $342. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in mid October with a ‘”a Neutral”‘ rating. Jefferies began covering CEG with “Hold” recommendation on September 13, 2024. Barclays started covering the stock on August 08, 2024. It rated CEG as “an Overweight”.
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Price Performance Review of CEG
On Tuesday, Constellation Energy Corporation [NASDAQ:CEG] saw its stock jump 3.45% to $233.75. Over the last five days, the stock has lost -11.79%. Constellation Energy Corporation shares have risen nearly 99.97% since the year began. Nevertheless, the stocks have risen 99.67% over the past one year. While a 52-week high of $288.75 was reached on 10/07/24, a 52-week low of $109.44 was recorded on 01/17/24. SMA at 50 days reached $238.73, while 200 days put it at $197.68.
Levels Of Support And Resistance For CEG Stock
The 24-hour chart illustrates a support level at 228.21, which if violated will result in even more drops to 222.68. On the upside, there is a resistance level at 238.07. A further resistance level may holdings at 242.40. The Relative Strength Index (RSI) on the 14-day chart is 37.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -21.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.96%. Stochastics %K at 7.23% indicates the stock is a buying.
How much short interest is there in Constellation Energy Corporation?
A steep rise in short interest was recorded in Constellation Energy Corporation stocks on 2024-10-15, dropping by -1.64 million shares to a total of 4.84 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 6.49 million shares. There was a decline of -33.88%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on July 19, 2024 when Argus began covering the stock and recommended ‘”a Buy”‘ rating along with a $240 price target.