Constellation Energy Corporation [NASDAQ: CEG] plunged by -$2.74 during the normal trading session on Thursday and reaching a high of $66.30 during the day while it closed the day at $62.67. The company report on April 19, 2022 that DOE Awards $2.5 Million for Direct Air Capture Study at Constellation Nuclear Plant In Illinois.
Department of Energy grant will be used to research potential game-changing carbon removal technology at Byron Generating Station in Northern Illinois.
The U.S. Department of Energy (DOE) has awarded a $2.5 million grant to Constellation and its project partners to explore the benefits of constructing direct air capture (DAC) technology at the company’s Byron nuclear energy plant in Northern Illinois. While nuclear plants do not produce any carbon emissions, direct air capture would remove carbon dioxide directly from the atmosphere, a possible next-generation technology to help our nation combat the climate crisis.
The market cap for CEG stock reached $21.01 billion, with 335.28 million shares outstanding and 325.93 million shares in the current float. Compared to the average trading volume of 3.30M shares, CEG reached a trading volume of 2493620 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Constellation Energy Corporation [CEG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CEG shares is $60.46 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CEG stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Constellation Energy Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 16, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on March 14, 2022, representing the official price target for Constellation Energy Corporation stock. Previously, the target price had yet another raise to $46, while Mizuho analysts kept a Neutral rating on CEG stock.
The Average True Range (ATR) for Constellation Energy Corporation is set at 2.69, with the Price to Sales ratio for CEG stock in the period of the last 12 months amounting to 1.07.
CEG stock trade performance evaluation
Constellation Energy Corporation [CEG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.38.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CEG stock in for the last two-week period is set at 59.72, with the RSI for the last a single of trading hit 56.01, and the three-weeks RSI is set at 61.22 for Constellation Energy Corporation [CEG]. The present Moving Average for the last 50 days of trading for this stock 53.14, while it was recorded at 64.13 for the last single week of trading.
Constellation Energy Corporation [CEG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Constellation Energy Corporation [CEG] shares currently have an operating margin of -2.78 and a Gross Margin at -0.37. Constellation Energy Corporation’s Net Margin is presently recorded at -1.04.
Return on Equity for this stock declined to -1.74, with Return on Assets sitting at -0.43.
Constellation Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.
Constellation Energy Corporation [CEG]: Insider Ownership positions
There are presently around $17,219 million, or 54.60% of CEG stock, in the hands of institutional investors. The top three institutional holders of CEG stocks are: VANGUARD GROUP INC with ownership of 28,165,454, which is approximately 2.906% of the company’s market cap and around 0.10% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 25,878,637 shares of the stock with an approximate value of $1.69 billion in CEG stocks shares; and BLACKROCK INC., currently with $1.64 billion in CEG stock with ownership of nearly -5.792% of the company’s market capitalization.
Positions in Constellation Energy Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 509 institutional holders increased their position in Constellation Energy Corporation [NASDAQ:CEG] by around 14,967,439 shares. Additionally, 477 investors decreased positions by around 15,724,318 shares, while 140 investors held positions by with 232,557,297 shares. The mentioned changes placed institutional holdings at 263,249,054 shares, according to the latest SEC report filing. CEG stock had 189 new institutional investments in for a total of 4,424,521 shares, while 170 institutional investors sold positions of 2,300,785 shares during the same period.