Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Rating) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Monday, Briefing.com reports.
A number of other equities research analysts also recently issued reports on AY. UBS Group increased their price objective on Atlantica Sustainable Infrastructure from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. BMO Capital Markets boosted their price target on shares of Atlantica Sustainable Infrastructure from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. increased their target price on Atlantica Sustainable Infrastructure from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.75.
Atlantica Sustainable Infrastructure Stock Performance
NASDAQ:AY traded down $0.28 during trading hours on Monday, reaching $32.17. The stock had a trading volume of 7,617 shares, compared to its average volume of 553,340. The stock has a market cap of $3.62 billion, a P/E ratio of -201.75 and a beta of 0.74. The stock has a 50 day simple moving average of $33.88 and a 200 day simple moving average of $33.36. The company has a debt-to-equity ratio of 2.98, a quick ratio of 2.01 and a current ratio of 2.07. Atlantica Sustainable Infrastructure has a 12-month low of $28.82 and a 12-month high of $41.32.
Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Rating) last posted its earnings results on Wednesday, August 3rd. The utilities provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.17). The business had revenue of $307.83 million during the quarter, compared to analysts’ expectations of $338.04 million. Atlantica Sustainable Infrastructure had a negative return on equity of 1.08% and a negative net margin of 1.66%. During the same quarter in the previous year, the business earned $0.11 EPS. On average, research analysts forecast that Atlantica Sustainable Infrastructure will post 0.49 EPS for the current fiscal year.
Institutional Trading of Atlantica Sustainable Infrastructure
Several institutional investors have recently bought and sold shares of AY. Clearstead Advisors LLC grew its stake in shares of Atlantica Sustainable Infrastructure by 1,330.2% during the 4th quarter. Clearstead Advisors LLC now owns 758 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 705 shares during the period. FMR LLC increased its stake in shares of Atlantica Sustainable Infrastructure by 63.6% in the second quarter. FMR LLC now owns 954 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 371 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Atlantica Sustainable Infrastructure during the 2nd quarter valued at $32,000. PNC Financial Services Group Inc. raised its stake in Atlantica Sustainable Infrastructure by 122.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 550 shares during the period. Finally, Quent Capital LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter worth $36,000. 40.05% of the stock is owned by hedge funds and other institutional investors.
About Atlantica Sustainable Infrastructure
Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. It owns 39 assets comprising 2,044 megawatts (MW) of aggregate renewable energy installed generation capacity; 343 MW of natural gas-fired power generation capacity; 55 thermal megawatts of district heating capacity; 1,229 miles of electric transmission lines; and 17.5 million cubic feet per day of water desalination assets.
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