Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Essential Utilities Inc shares valued at $87,661 were sold by RUBIN ROBERT A on Jul 01 ’24. At $37.43 per share, RUBIN ROBERT A sold 2,342 shares. The insider’s holdings dropped to 53,391 shares worth approximately $1.93 million following the completion of this transaction.
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Also, RUBIN ROBERT A sold 2,023 shares, netting a total of over 73,961 in proceeds. Following the sale of shares at $36.56 each, the insider now holds 13,358 shares.
Before that, RUBIN ROBERT A had sold 5,565 shares from its account. In a trade valued at $207,074, the Chief Accounting Officer traded Essential Utilities Inc shares for $37.21 each. Upon closing the transaction, the insider’s holdings decreased to 5,565 shares, worth approximately $2.09 million.
As published in a research note from Jefferies on November 07, 2024, Essential Utilities Inc [WTRG] has been rated down from a Buy to a Hold and the price target has been revised to $41 from $44. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in early October. Earlier on November 03, 2023, Edward Jones upgraded its rating. Their new recommendation was “a Buy” for WTRG stock which previously was a “a Hold”.
Analyzing WTRG Stock Performance
During the last five days, there has been a drop of approximately -6.16%. Over the course of the year, Essential Utilities Inc shares have dropped approximately -2.97%. Shares of the company reached a 52-week high of $41.78 on 08/02/24 and a 52-week low of $33.57 on 04/16/24. A 50-day SMA is recorded $39.25, while a 200-day SMA reached $38.29. Nevertheless, trading volume fell to 1.9 million shares from 1.49 million shares the previous day.
Support And Resistance Levels for Essential Utilities Inc (WTRG)
According to the 24-hour chart, there is a support level at 35.62, which, if violated, would cause prices to drop to 34.99. In the upper region, resistance lies at 37.44. The next price resistance is at 38.64. RSI (Relative Strength Index) is 27.33 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.34, which suggests the price will decrease in the coming days. Percent R is at 98.95%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
