SSE (LON:SSE) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• SSE plc's stock price has surpassed its 200-day moving average, reaching a high of GBX 1,756 ($23.71) in recent trading, which is indicative of a potentially positive market trend.
• Recent insider trading indicates that executives are selling shares, with a total of 78,149 shares sold and only 20 shares acquired in the last ninety days, raising concerns among investors.
• The company operates within the renewable energy sector, focusing on creating value sustainably while supporting the transition to net zero energy.

SSE plc (LON:SSE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,696.97 ($22.80) and traded as high as GBX 1,756 ($23.59). SSE shares last traded at GBX 1,730 ($23.24), with a volume of 2,231,130 shares traded.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price objective on SSE from GBX 2,300 to GBX 2,425 and gave the stock an "overweight" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of GBX 2,425.

SSE Price Performance

The stock has a fifty day moving average of GBX 1,815.43 and a 200-day moving average of GBX 1,700.43. The company has a quick ratio of 0.50, a current ratio of 1.10 and a debt-to-equity ratio of 82.62. The stock has a market capitalization of £17.84 billion, a price-to-earnings ratio of 1,500.46, a P/E/G ratio of 3.06 and a beta of 0.56.

Insider Activity at SSE

In other SSE news, insider Martin Pibworth sold 28,449 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of GBX 1,754, for a total value of £498,995.46. Also, insider Barry O'Regan sold 6,555 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of GBX 1,755, for a total value of £115,040.25. Over the last three months, insiders acquired 20 shares of company stock valued at $35,744 and sold 78,149 shares valued at $137,123,046. 0.15% of the stock is currently owned by corporate insiders.

SSE Company Profile

SSE is an integrated energy group focused on regulated electricity networks and renewable energy with flexible generation. Our strategy is to create value for shareholders and society in a sustainable way by developing, building, operating and investing in the electricity infrastructure and businesses needed in the transition to net zero.