Eversource Energy (NYSE: ES) shares rose in value Thursday December 29 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks were little changed in early trade Thursday. The S&P 500 SPX, +0.04% rose 0.1% to 2,252, while the Dow DJIA, +0.04% advanced 16 points to 19,850. The Nasdaq Composite COMP, -0.04% was virtually flat at 5,439.
Analysts at Zacks Investment Research upgraded shares of Eversource Energy (NYSE: ES) from Hold to Buy today. The company currently has a rating of Buy on the shares. A number of other analysts have commented on the company in recent days, and Eversource Energy has secured a consensus one-year price target of $58.14, higher than the opening price of $54.85, a difference of 10.58 percent. Eversource Energy stock has a 52-week high of $60.44. Share prices sometimes get a jump to the upside when analysts upgrade a stock.
Eversource Energy (NYSE: ES) shares last traded at $54.93, which is an increase of $0.21 or 0.38% from the previous closing price. Opening at $54.85, they ranged from $54.73 and $55.07 throughout the day.
Eversource Energy (NYSE: ES) now has a market cap of 17.41B.
Eversource Energy (NYSE: ES) Average Daily Trading Volume
142,263 shares crossed the trading desk yesterday, below the average, out of a total float 315,545,000. Swing traders often use increases in trading volume to determine substantial volume growth or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, just a day of high volume buy side trading is not enough to determine a trend. So market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Eversource Energy (NYSE: ES) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Eversource Energy (NYSE: ES) have ranged from $50.01 – 60.44, and the stock now has a 50-day MA of $53.21 and 200-day MA of $55.20. Today’s last price is 9.12%% under the 52 week high of $60.44.
Earnings growth is a critical factor to research when buying stocks and investors watch for companies that have been successful at growing their earnings by at least 25% over a 3 year period.
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