2024-07-30 04:48:55 ET
Summary
- The shareholder excitement prior to the publication of the Q1 2024 results seems to have cooled off, with a 10% decrease in the share price since the results were published.
- There was a significant increase in adjusted EBITDA of 31% YoY, and net income increased from a loss of $1.3 billion in Q1 2023 to a value of $511 million in Q1 2024.
- Lack of insider buying activity despite the new share buyback program for 2024 raises concerns about management's confidence in the current share price.
- I keep a Hold rating until clearer signs of insider confidence emerge at a lower price point.
NRG Energy, Inc. ( NRG ) is about to release its Q2 2024 earnings on August 8, pre-market. If you have been buying between February and May this year, you might want to keep an eye on this release.
The shareholder excitement prior to the Q1 2024 earnings, seems to have cooled off, after a 10% decrease in the share price since the publication of the Q1 results....
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NRG Energy: On The Pullback After Too Much Excitement