Constellation Energy Corporation [CEG] Is Currently -3.76 below its 200 Period Moving Avg: What Does This Mean?

Constellation Energy Corporation [NASDAQ: CEG] traded at a low on Thursday, posting a -3.76 loss after which it closed the day’ session at $183.11. The company report on April 3, 2024 at 11:10 AM that Moody’s Upgrades Constellation’s Credit Rating as Policy Support and Growing Demand for Clean Energy Fuel Strong Financial Performance.

Company’s long-term outlook improves with nuclear production tax credit and market recognition that nuclear energy is essential to clean energy transition.

Constellation’s credit rating has been upgraded by the credit rating firm Moody’s Investor Services (“Moody’s”) based on the company’s improved debt coverage metrics and strong financial performance driven by climate policies that recognize the value of nuclear as a reliable clean energy resource. Moody’s raised Constellation’s rating to Baa1 from Baa2 and assigned a stable outlook, which reflects confidence in the company’s ability to maintain its credit metrics and financial performance going forward. The largest producer of carbon-free energy in the U.S., Constellation has exceeded financial expectations since launching as an independent company two years ago. The upgrade by Moody’s follows two similar upgrades by ratings firm S&P Global Ratings (S&P) since the company separated from Exelon Corp. in 2022.

The results of the trading session contributed to over 3744927 shares changing hands. Over the past one week, the price volatility of Constellation Energy Corporation stands at 3.48% while the volatility over the past one month is 3.70%.

The market cap for CEG stock reached $57.70 billion, with 317.00 million shares outstanding and 314.41 million shares in the current float. Compared to the average trading volume of 2.25M shares, CEG reached a trading volume of 3744927 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 $171.73 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 1.77. 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.

KeyBanc Capital Markets have made an estimate for Constellation Energy Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 28, 2024. The new note on the price target was released on November 29, 2023, representing the official price target for Constellation Energy Corporation stock. On February 22, 2023, analysts decreased their price target for CEG shares from 91 to 83.

The Average True Range (ATR) for Constellation Energy Corporation is set at 6.67, with the Price to Sales ratio for CEG stock in the period of the last 12 months amounting to 2.62. The Price to Book ratio for the last quarter was 5.31, with the Price to Cash per share for the same quarter was set at 1.44.

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 -0.96. With this latest performance, CEG shares gained by 3.59% in over the last four-week period, additionally plugging by 74.57% over the last 6 months – not to mention a rise of 138.98% 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 63.76, with the RSI for the last a single of trading hit 58.50, and the three-weeks RSI is set at 66.12 for Constellation Energy Corporation [CEG]. The present Moving Average for the last 50 days of trading for this stock 153.72, while it was recorded at 186.47 for the last single week of trading, and 120.37 for the last 200 days.

Constellation Energy Corporation [CEG]: Deeper insight into the fundamentals

Constellation Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.08 and a Current Ratio set at 1.31.

Earnings analysis for Constellation Energy Corporation [CEG]

With the latest financial reports released by the company, Constellation Energy Corporation posted 0.29/share EPS, while the average EPS was predicted by analysts to be reported at 0.88/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -67.00%. 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 26.30%.

Insider trade positions for Constellation Energy Corporation [CEG]

The top three institutional holders of CEG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CEG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CEG stock with ownership which is approximately 5.8386%.