SSE (LON:SSE) Stock Crosses Above 200 Day Moving Average – What’s Next?

SSE plc (LON:SSE)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,187.99 and traded as high as GBX 2,563. SSE shares last traded at GBX 2,508, with a volume of 21,324,611 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on SSE from GBX 2,350 to GBX 2,500 and gave the stock a “buy” rating in a report on Monday, January 19th. Citigroup lifted their target price 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. UBS Group restated a “neutral” rating and set a GBX 2,350 target price on shares of SSE in a research report on Friday, January 23rd. Finally, Jefferies Financial Group upped their price target on SSE from GBX 2,510 to GBX 3,060 and gave the company a “buy” rating in a research note on Wednesday, March 18th. 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. According to data from MarketBeat, SSE currently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,478.

SSE Stock Performance

The stock’s 50 day moving average is GBX 2,552.82 and its two-hundred day moving average is GBX 2,193.74. The firm has a market capitalization of £29.86 billion, a P/E ratio of 28.50, a P/E/G ratio of 3.06 and a beta of 0.67. The company has a debt-to-equity ratio of 81.00, a current ratio of 0.97 and a quick ratio of 0.50.

Insider Activity at SSE

In other SSE news, insider Martin Pibworth bought 19 shares of the company’s stock in a transaction on Friday, January 30th. The stock was bought at an average price of GBX 2,423 per share, for a total transaction of £460.37. In the last three months, insiders have acquired 21 shares of company stock worth $50,980. 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.