Credit Suisse slashes price target on Constellation Energy Corporation [CEG] – find out why.

Constellation Energy Corporation [NASDAQ: CEG] surged by $0.57 during the normal trading session on Thursday and reaching a high of $80.19 during the day while it closed the day at $78.64. The company report on March 9, 2023 that Constellation CEO to Call on Congress to Support Reliable, Zero-Carbon Nuclear Energy by Investing in Domestic Fuel Sources.

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Senate testimony will highlight risks to environment, national security and energy reliability if action isn’t taken to ensure U.S. sources of fuel for nuclear power plants.

Constellation (Nasdaq: CEG) CEO Joe Dominguez will urge Congress to authorize and fully fund legislation providing up to $3.5 billion for investments in domestic fuel sources for the nuclear energy industry, citing risks to the environment, energy grid reliability and national security if America’s nuclear industry lacks sufficient nuclear fuel in coming years as a result of global disruptions in the supply chain.

Constellation Energy Corporation stock has also gained 3.23% of its value over the past 7 days. However, CEG stock has declined by -13.37% in the 3 months of the year. Over the past six months meanwhile, it has lost -5.14% and lost -8.78% year-on date.

The market cap for CEG stock reached $24.81 billion, with 327.00 million shares outstanding and 326.25 million shares in the current float. Compared to the average trading volume of 1.99M shares, CEG reached a trading volume of 3109603 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 $97.77 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 2.20. 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.

Credit Suisse have made an estimate for Constellation Energy Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 22, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $104 to $88. The new note on the price target was released on February 21, 2023, representing the official price target for Constellation Energy Corporation stock. Previously, the target price had yet another raise from $88 to $91, while RBC Capital Mkts kept a Sector Perform rating on CEG stock.

The Average True Range (ATR) for Constellation Energy Corporation is set at 2.51, with the Price to Sales ratio for CEG stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 3.78.

CEG stock trade performance evaluation

Constellation Energy Corporation [CEG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.23. With this latest performance, CEG shares dropped by -8.48% in over the last four-week period, additionally sinking by -5.14% over the last 6 months – not to mention a rise of 50.31% 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 CEG stock in for the last two-week period is set at 43.67, with the RSI for the last a single of trading hit 45.72, and the three-weeks RSI is set at 43.38 for Constellation Energy Corporation [CEG]. The present Moving Average for the last 50 days of trading for this stock 82.80, while it was recorded at 78.48 for the last single week of trading, and 79.03 for the last 200 days.

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 +2.02 and a Gross Margin at +4.28. Constellation Energy Corporation’s Net Margin is presently recorded at -0.65.

Return on Equity for this stock declined to -1.44, with Return on Assets sitting at -0.34.

Constellation Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for Constellation Energy Corporation [CEG] stock

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 CEG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Constellation Energy Corporation go to 21.70%.

Constellation Energy Corporation [CEG]: Insider Ownership positions

There are presently around $21,122 million, or 83.30% of CEG stock, in the hands of institutional investors. The top three institutional holders of CEG stocks are: VANGUARD GROUP INC with ownership of 38,376,259, which is approximately -0.249% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 24,969,020 shares of the stock with an approximate value of $1.96 billion in CEG stocks shares; and FMR LLC, currently with $1.96 billion in CEG stock with ownership of nearly 2.156% of the company’s market capitalization.

Positions in Constellation Energy Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 413 institutional holders increased their position in Constellation Energy Corporation [NASDAQ:CEG] by around 17,207,802 shares. Additionally, 384 investors decreased positions by around 14,634,032 shares, while 163 investors held positions by with 236,748,550 shares. The mentioned changes placed institutional holdings at 268,590,384 shares, according to the latest SEC report filing. CEG stock had 140 new institutional investments in for a total of 4,505,344 shares, while 81 institutional investors sold positions of 3,367,903 shares during the same period.


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