SSE (LON:SSE) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

SSE plc (LON:SSE)’s stock price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of GBX 2,468.37 and traded as low as GBX 2,458. SSE shares last traded at GBX 2,499.07, with a volume of 1,400,672 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SSE shares. Berenberg Bank lifted their price objective on SSE from GBX 2,800 to GBX 2,980 and gave the company a “buy” rating in a report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 2,650 target price on shares of SSE in a report on Thursday, September 3rd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,622.

SSE Price Performance

The company’s 50-day moving average is GBX 2,405.43 and its 200-day moving average is GBX 2,467.10. The firm has a market cap of £30.05 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 3.06 and a beta of 0.58. The company has a current ratio of 1.20, a quick ratio of 0.50 and a debt-to-equity ratio of 103.50.

Insider Buying and Selling at SSE

In other SSE news, insider Martin Pibworth purchased 112 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were bought at an average price of GBX 2,446 per share, for a total transaction of £2,739.52. Over the last 90 days, insiders acquired 117 shares of company stock valued at $286,051. Company insiders own 0.15% of the company’s stock.

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.