Calpine Corporation (CPN) has risen sharply, recording gains of 7.74% in the past 4 weeks. However, the stock has corrected -1.07% 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 0.92% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Calpine Corporation (NYSE:CPN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.68 and $14.57 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.95. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.76, notching a gain of 0.89% for the day. The total traded volume was 1,871,575 . The stock had closed at $14.63 on the previous day.
The stock has recorded a 20-day Moving Average of 1.77% and the 50-Day Moving Average is 0.85%. Calpine Corp. has dropped 4.22% during the last 3-month period . Year-to-Date the stock performance stands at 2%.
Calpine Corporation (Calpine) is a wholesale power generator. The Company owns and operates natural gas-fired and geothermal power plants in North America. It sells wholesale power, steam, capacity, renewable energy credits and ancillary services to its customers, which include utilities, independent electric system operators, industrial and agricultural companies, retail power providers, municipalities, power marketers and others. Its segments are West (including geothermal), Texas and East (including Canada). The Companys portfolio consists of two types of power generation technologies: natural gas-fired combustion turbines, which are primarily combined-cycle plants, and renewable geothermal conventional steam turbines. It is also an owner and operator of industrial gas turbines, as well as cogeneration power plants. It owns 88 power plants, including one under construction plant, with an aggregate generation capacity of 26,548 megawatt (MW) and 309 MW under construction.