PowerShares QQQ Trust, Series 1 (ETF) (QQQ) Forms $143.84 Double Top, Consolidated Edison (ED) Shorts Up By 7.25%

July 31, 2017 - By Louis Casey

PowerShares QQQ Trust, Series 1 (ETF) (QQQ) formed double top with $152.47 target or 6.00% above today’s $143.84 share price. PowerShares QQQ Trust, Series 1 (ETF) (QQQ) has $52.85B valuation. The ETF decreased 0.08% or $0.12 during the last trading session, reaching $143.84. About 27,479 shares traded. PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) has risen 30.89% since July 31, 2016 and is uptrending. It has outperformed by 14.19% the S&P500.

Consolidated Edison Incorporated (NYSE:ED) had an increase of 7.25% in short interest. ED’s SI was 11.82M shares in July as released by FINRA. Its up 7.25% from 11.02M shares previously. With 1.41 million avg volume, 8 days are for Consolidated Edison Incorporated (NYSE:ED)’s short sellers to cover ED’s short positions. The SI to Consolidated Edison Incorporated’s float is 3.88%. The stock increased 0.11% or $0.09 on July 28, reaching $82.38. About shares traded. Consolidated Edison, Inc. (NYSE:ED) has risen 11.89% since July 31, 2016 and is uptrending. It has underperformed by 4.81% the S&P500.

Among 11 analysts covering Con Edison (NYSE:ED), 1 have Buy rating, 3 Sell and 7 Hold. Therefore 9% are positive. Con Edison had 31 analyst reports since July 29, 2015 according to SRatingsIntel. The stock has “Hold” rating by Vetr on Monday, August 10. The firm has “Hold” rating by Deutsche Bank given on Monday, December 14. The firm has “Sell” rating given on Monday, April 18 by Deutsche Bank. The stock of Consolidated Edison, Inc. (NYSE:ED) earned “Sell” rating by Goldman Sachs on Wednesday, September 14. Deutsche Bank upgraded Consolidated Edison, Inc. (NYSE:ED) rating on Monday, October 24. Deutsche Bank has “Hold” rating and $74 target. Deutsche Bank maintained it with “Sell” rating and $60.0 target in Monday, August 10 report. Mizuho maintained the shares of ED in report on Friday, September 18 with “Neutral” rating. Barclays Capital maintained it with “Equal-Weight” rating and $77 target in Wednesday, September 21 report. The firm has “Sell” rating by UBS given on Monday, February 22. The stock has “Sell” rating by Goldman Sachs on Monday, October 19.

Consolidated Edison, Inc. is a holding company. The company has market cap of $25.16 billion. The Firm operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R), Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses) and Con Edison Transmission, Inc. (Con Edison Transmission). It has a 18.98 P/E ratio. CECONY’s principal business are its regulated electric, gas and steam delivery businesses.