SSE (LON:SSE) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

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.

Shares of SSE plc (LON:SSE - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,696.97 ($22.73) and traded as high as GBX 1,756 ($23.52). SSE shares last traded at GBX 1,730 ($23.17), with a volume of 2,231,130 shares.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted their price target on SSE from GBX 2,300 to GBX 2,425 and gave the company an "overweight" rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, SSE currently has an average rating of "Hold" and a consensus target price of GBX 2,425.

SSE Trading Down 0.2%

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 firm has a market capitalization of £17.73 billion, a P/E ratio of 1,491.21, a PEG ratio of 3.06 and a beta of 0.56. The firm has a 50 day moving average of GBX 1,824.48 and a 200-day moving average of GBX 1,700.17.

Insiders Place Their Bets

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

About SSE

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.