Market Analysts see Constellation Energy Corporation [CEG] gaining to $70. Time to buy?


Constellation Energy Corporation [NASDAQ: CEG] jumped around 3.76 points on Wednesday, while shares priced at $58.20 at the close of the session, up 6.91%. The company report on June 10, 2022 that Major Upgrades at Constellation Nuclear Stations Ensure Carbon-Free Electricity for 15 Million This Summer.

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Over 13,000 workers supported maintenance projects during spring refueling outages to keep power supplied 24/7 during hot summer months and beyond.

Over 13,000 workers performed technology upgrades and equipment maintenance during six refueling outages at Constellation nuclear plants this spring, investments that will prepare the plants for the hot summer months ahead. The cutting-edge upgrades and preventive maintenance will ensure Constellation’s nuclear fleet, which serves 15 million American homes and businesses, will have access to safe, affordable, carbon-free electricity this summer to help combat any periods of high heat or humidity.

Compared to the average trading volume of 2.64M shares, CEG reached a trading volume of 3891677 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $67.27 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 2.10. 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.

Guggenheim have made an estimate for Constellation Energy Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 13, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on April 29, 2022, representing the official price target for Constellation Energy Corporation stock. Previously, the target price had yet another raise to $63, while Morgan Stanley analysts kept a Overweight rating on CEG stock.

The Average True Range (ATR) for Constellation Energy Corporation is set at 3.19, with the Price to Sales ratio for CEG stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 4.80.

How has CEG stock performed recently?

Constellation Energy Corporation [CEG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.14.

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 46.15, with the RSI for the last a single of trading hit 43.94, and the three-weeks RSI is set at 47.99 for Constellation Energy Corporation [CEG]. The present Moving Average for the last 50 days of trading for this stock 60.53, while it was recorded at 57.82 for the last single week of trading.

Constellation Energy Corporation [CEG]: Deeper insight into the 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 1.20 and a Current Ratio set at 1.40.

Insider trade positions for Constellation Energy Corporation [CEG]

There are presently around $13,997 million, or 84.80% of CEG stock, in the hands of institutional investors. The top three institutional holders of CEG stocks are: VANGUARD GROUP INC with ownership of 38,414,517, which is approximately 36.389% of the company’s market cap and around 0.10% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 22,154,364 shares of the stock with an approximate value of $1.21 billion in CEG stocks shares; and BLACKROCK INC., currently with $1.17 billion in CEG stock with ownership of nearly -14.447% 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 292 institutional holders increased their position in Constellation Energy Corporation [NASDAQ:CEG] by around 49,255,431 shares. Additionally, 799 investors decreased positions by around 57,273,999 shares, while 47 investors held positions by with 150,588,319 shares. The mentioned changes placed institutional holdings at 257,117,749 shares, according to the latest SEC report filing. CEG stock had 69 new institutional investments in for a total of 7,137,234 shares, while 478 institutional investors sold positions of 17,735,172 shares during the same period.