Covanta Holding Corporation (NYSE:CVA) has risen sharply, recording gains of 1.9% in the past 4 weeks. However, the stock has corrected -0.84% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.28% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have dropped -21.43% from its 1 Year high price. On Jul 13, 2015, the shares registered one year high at $21.69 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $16.49 and the 200 Day Moving Average price is recorded at $15.70.
The stock has recorded a 20-day Moving Average of 2.24% and the 50-Day Moving Average is 1.91%.
Covanta Holding Corporation (NYSE:CVA): stock turned positive on Friday. Though the stock opened at $16.62, the bulls momentum made the stock top out at $16.8 level for the day. The stock recorded a low of $16.49 and closed the trading day at $16.61, in the green by 0.42%. The total traded volume for the day was 675,388. The stock had closed at $16.54 in the previous days trading.
In an insider trading activity, Silberman Robert S, director of Covanta Holding Corp, executed a transaction worth $31,113 on March 3, 2016. A total of 2,077 shares were purchased at an average price of $14.98. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Covanta Holding Corporation is a holding company. Through its subsidiaries, the Company owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. Energy-from-waste (EfW) serves two markets as both a sustainable waste management solution and as a source of clean energy. The Company operate and/or have ownership positions in 46 EfW facilities, which are primarily located in North America, and 11 additional energy generation facilities, including other renewable energy production facilities in North America (wood biomass and hydroelectric). In total, these assets produce approximately 10 million megawatt hours (MWh) of baseload electricity. The Company also operates a waste management infrastructure, including 18 transfer stations. The Company also operates, and in some cases has ownership interests in, transfer stations and landfills.