Covanta Holding Corporation (CVA) : Traders are bullish on Covanta Holding Corporation (CVA) as it has outperformed the S&P 500 by a wide margin of 1.66% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.08%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.25% in the last 1 week, and is up 1.12% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.02% and the 50-Day Moving Average is 2.71%.The 200 Day SMA reached 1.62%
Covanta Holding Corporation (NYSE:CVA): After opening at $15.31, the stock dipped to an intraday low of $15.23 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $15.41 and the buying power remained strong till the end. The stock closed at $15.39 for the day, a gain of 0.85% for the day session. The total traded volume was 742,488. The stocks close on the previous trading day was $15.39.
Covanta Holding Corporation (CVA) has been rated by 8 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $21 and the lowest price target forecast is $16. The average forecast of all the analysts is $18.38 and the expected standard deviation is $1.58.
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.