For FirstEnergy Corp. [FE], Analyst sees a drop to $44. What next?


FirstEnergy Corp. [NYSE: FE] price plunged by -0.59 percent to reach at -$0.25. The company report on May 17, 2022 that FirstEnergy Holds Annual Meeting, Announces New Board Leadership.

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President and CEO Steven E. Strah addresses shareholders.

A sum of 3586813 shares traded at recent session while its average daily volume was at 4.24M shares. FirstEnergy Corp. shares reached a high of $42.38 and dropped to a low of $41.47 until finishing in the latest session at $42.02.

The one-year FE stock forecast points to a potential upside of 12.59. The average equity rating for FE stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on FirstEnergy Corp. [FE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FE shares is $48.07 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FE stock is a recommendation set at 2.40. 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.

BofA Securities have made an estimate for FirstEnergy Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 16, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on April 26, 2022, representing the official price target for FirstEnergy Corp. stock. Previously, the target price had yet another raise from $40 to $46, while Evercore ISI kept a Outperform rating on FE stock.

The Average True Range (ATR) for FirstEnergy Corp. is set at 1.04, with the Price to Sales ratio for FE stock in the period of the last 12 months amounting to 2.09. The Price to Book ratio for the last quarter was 2.74, with the Price to Cash per share for the same quarter was set at 0.50.

FE Stock Performance Analysis:

FirstEnergy Corp. [FE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.45. With this latest performance, FE shares dropped by -13.29% in over the last four-week period, additionally plugging by 7.52% over the last 6 months – not to mention a rise of 11.49% in the past year of trading.

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 FE stock in for the last two-week period is set at 37.73, with the RSI for the last a single of trading hit 36.96, and the three-weeks RSI is set at 40.15 for FirstEnergy Corp. [FE]. The present Moving Average for the last 50 days of trading for this stock 44.71, while it was recorded at 42.26 for the last single week of trading, and 40.68 for the last 200 days.

Insight into FirstEnergy Corp. Fundamentals:

FirstEnergy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

FE Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for FirstEnergy Corp. go to -2.42%.

FirstEnergy Corp. [FE] Insider Position Details

There are presently around $20,265 million, or 85.00% of FE stock, in the hands of institutional investors. The top three institutional holders of FE stocks are: VANGUARD GROUP INC with ownership of 68,214,574, which is approximately 6.967% of the company’s market cap and around 0.10% of the total institutional ownership; STATE STREET CORP, holding 43,839,325 shares of the stock with an approximate value of $1.85 billion in FE stocks shares; and BLACKROCK INC., currently with $1.79 billion in FE stock with ownership of nearly -1.992% of the company’s market capitalization.

357 institutional holders increased their position in FirstEnergy Corp. [NYSE:FE] by around 47,549,939 shares. Additionally, 309 investors decreased positions by around 43,428,629 shares, while 125 investors held positions by with 388,446,512 shares. The mentioned changes placed institutional holdings at 479,425,080 shares, according to the latest SEC report filing. FE stock had 93 new institutional investments in for a total of 10,997,076 shares, while 91 institutional investors sold positions of 12,038,061 shares during the same period.