SSE (LON:SSE) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

SSE plc (LON:SSE)’s share price 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 trading hands.

Wall Street Analyst Weigh In

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

SSE Price Performance

The firm has a market cap of £32.79 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 3.06 and a beta of 0.67. The company has a current ratio of 0.97, a quick ratio of 0.50 and a debt-to-equity ratio of 81.00. The company has a 50 day moving average of GBX 2,492.19 and a 200 day moving average of GBX 2,131.02.

Insider Activity at SSE

In other SSE news, insider Martin Pibworth purchased 19 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were bought at an average price of GBX 2,423 per share, with a total value of £460.37. Insiders bought a total of 30 shares of company stock worth $73,444 over the last quarter. Company insiders own 0.16% of the company’s stock.

About SSE

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.