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

SSE plc (LON:SSE)’s share price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 2,456.32 and traded as high as GBX 2,586. SSE shares last traded at GBX 2,551, with a volume of 1,910,621 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group restated a “buy” rating and issued a GBX 3,060 price objective on shares of SSE in a report on Thursday, October 1st. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,980 price target on shares of SSE in a research report on Tuesday, October 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 2,650 price objective on shares of SSE in a research note on Thursday, September 3rd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,639.43.

SSE Stock Up 0.4%

The company’s fifty day moving average is GBX 2,431.66 and its 200-day moving average is GBX 2,456.32. The company has a debt-to-equity ratio of 103.50, a quick ratio of 0.50 and a current ratio of 1.20. The company has a market capitalization of £30.99 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56.

Insider Transactions at SSE

In other news, insider Martin Pibworth acquired 112 shares of SSE stock in a transaction that occurred on Thursday, September 17th. The shares were bought at an average cost of GBX 2,446 per share, with a total value of £2,739.52. Also, insider Barry O’Regan purchased 9 shares of SSE stock in a transaction dated Thursday, October 8th. The stock was acquired at an average price of GBX 2,962 per share, for a total transaction of £266.58. Over the last ninety days, insiders have purchased 125 shares of company stock valued at $310,226. 0.15% of the stock is owned by corporate 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.