Large Inflow of Money Detected in Consolidated Edison Inc

Consolidated Edison Inc (ED) stock had a bullish inflow of $26.57 million worth of trades on uptick and an outflow of $18.81 million in downticks on Wednesday. The total uptick to downtick ratio stood at 1.41. The net money flow into the stock was $7.76 million. The money flow data, which is calculated as the dollar value of composite uptick minus the downtick trades indicated bullish. The block trades had a total money flow of $7.92 million. An inflow of $1.1 million block trade was recorded on downticks. $9.02 million of block trade during Uptick was observed, which shows continued buying by the smart money on every weakness. The total uptick to downtick ratio of block trades was 8.19 in favor of the bulls. However, Consolidated Edison Inc (ED) stock traded down $0.2 , and reached $78.91, a drop of -0.25% over the previous day. On a weekly basis, the stock is -0.3%, over the previous weeks close.


Also, Equity Analysts at the Jefferies maintains the rating on Consolidated Edison Inc (NYSE:ED). The brokerage firm has issued a Hold rating on the shares. The Analysts at the ratings agency raises the price target from $77 per share to $80 per share. The rating by the firm was issued on July 14, 2016.

Consolidated Edison Inc (NYSE:ED): The stock opened at $79.11 on Wednesday but the bulls could not build on the opening and the stock topped out at $79.27 for the day. The stock traded down to $78.47 during the day, due to lack of any buying support eventually closed down at $78.91 with a loss of -0.25% for the day. The stock had closed at $79.11 on the previous day. The total traded volume was 1,576,185 shares.

The stock has recorded a 20-day Moving Average of 0.55% and the 50-Day Moving Average is 3.32%. In a related news, Mcavoy John, director officer (Chairman, President & CEO) of Consolidated Edison Inc had purchased 026 shares on July 15, 2016 in a transaction. The price per share was $79.3 and the total amount of the disclosed transaction was $2,062.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

Consolidated Edison, Inc. (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R) and the Competitive Energy Businesses. CECONY delivers electricity, natural gas and steam to customers in New York City and Westchester County. Orange and Rockland Utilities Inc. (O&R) delivers electricity and natural gas to customers located in south-eastern New York, northern New Jersey and north-eastern Pennsylvania. O&Rs utility subsidiaries include Rockland Electric Company and Pike County Light & Power Company. Competitive energy businesses provide retail and wholesale electricity supply and energy services. The Competitive Energy Businesses include three subsidiaries: Consolidated Edison Solutions, Inc. (Con Edison Solutions); Consolidated Edison Energy, Inc. (Con Edison Energy), and Consolidated Edison Development, Inc. (Con Edison Development).

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.