Section 1: Company Fundamentals
1.1 Company Overview:
Clearway Energy, Inc. (NYSE: CWEN) is a renewable energy company. The Company is an energy infrastructure investor in and owner of long-term contracted assets across North America. The Company's businesses are segregated based on conventional power generation, and renewable businesses, which consist of solar and wind.
Kalkine’s US Daily Report covers the Company Overview, Summary Table, Key positives & negatives, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.
Stock Performance:
- The stock has corrected by 15.26% in the last six months as well as by 5.80% in the last year.
- The stock is leaning towards the lower band of its 52-week range of USD 41.79 and 52-week low price of USD 28.78. The price is currently closer to its important support range of USD 26.00-USD 28.00.
- The price is currently trading below both its short-term (50-day) SMA and long-term (200-day) SMA, with the current oversold RSI of 43.71, with the expectation of a reversal of trend.
1.2 Summary Table
1.3 The Key Positives, Negatives, and Investment summary
1.4 Key Metrics:
The company has performed better than its peers in terms of operational efficiency, evident by higher profitability margins at different levels of operations. The other graph also shows higher efficiency in managing working capital, evident through higher current ratio as compared to its industry median.
Section 2: Clearway Energy Inc. (“Buy” at USD 29.95, as of May 05, 2023, at 07:15 am PDT.
2.1 Company Details
2.2 Valuation and Technical Guidance
Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is May 05, 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: The report publishing date is as per the Pacific Time Zone.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.
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