SSE (LON:SSE) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of SSE plc (LON:SSE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,124.59 and traded as high as GBX 2,700. SSE shares last traded at GBX 2,694, with a volume of 95,903,836 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SSE. Citigroup increased their price target on shares of SSE from GBX 1,997 to GBX 2,036 and gave the company a “sell” rating in a research note on Monday, January 26th. Royal Bank Of Canada upped their price objective on SSE from GBX 2,200 to GBX 2,475 and gave the company an “outperform” rating in a report on Friday, November 14th. UBS Group reiterated a “neutral” rating and issued a GBX 2,350 price objective on shares of SSE in a research report on Friday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on SSE from GBX 2,350 to GBX 2,500 and gave the stock a “buy” rating in a research note on Monday, January 19th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,359.43.

SSE Trading Up 2.8%

The business’s 50-day simple moving average is GBX 2,482.41 and its two-hundred day simple moving average is GBX 2,124.59. The firm has a market capitalization of £32.47 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 3.06 and a beta of 0.67. The company has a quick ratio of 0.50, a current ratio of 0.97 and a debt-to-equity ratio of 81.00.

Insiders Place Their Bets

In related news, insider Martin Pibworth bought 19 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average price of GBX 2,423 per share, for a total transaction of £460.37. In the last three months, insiders have purchased 30 shares of company stock valued at $73,444. 0.16% of the stock is currently owned by company insiders.

SSE Company Profile

SSE is a leading generator of renewables and flexible energy in the GB and Ireland markets, and one of the world’s fastest-growing electricity networks companies.

This includes onshore and offshore wind farms, hydro, electricity transmission and distribution networks, power stations, carbon capture and hydrogen, solar and batteries, as well as providing energy products and services for businesses and other customers.

SSE’s more than 14,000 employees are dedicated to delivering cleaner, more secure energy and ensuring a just transition to a net zero future.