Atlantica Sustainable Infrastructure (NASDAQ:AY) Lowered to “Sell” at StockNews.com

Atlantica Sustainable Infrastructure (NASDAQ:AY) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

AY has been the subject of a number of other reports. UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. Royal Bank of Canada decreased their price target on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Bank of America cut their price objective on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. BMO Capital Markets reduced their target price on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, March 5th. Finally, National Bank Financial downgraded Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.67.

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ AY opened at $20.41 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14. The stock has a fifty day simple moving average of $18.24 and a 200 day simple moving average of $18.98. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $28.14. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 48.60, a PEG ratio of 1.02 and a beta of 0.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The firm had revenue of $241.31 million during the quarter, compared to the consensus estimate of $243.81 million. During the same period last year, the business posted $0.03 EPS. Sell-side analysts expect that Atlantica Sustainable Infrastructure will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in shares of Atlantica Sustainable Infrastructure by 37.1% in the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after buying an additional 698 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter worth approximately $280,000. Riverview Trust Co purchased a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter worth approximately $43,000. Mission Wealth Management LP boosted its stake in shares of Atlantica Sustainable Infrastructure by 12.0% in the 3rd quarter. Mission Wealth Management LP now owns 26,175 shares of the utilities provider’s stock worth $500,000 after buying an additional 2,809 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 0.6% in the 3rd quarter. Ceredex Value Advisors LLC now owns 463,350 shares of the utilities provider’s stock worth $8,850,000 after buying an additional 2,550 shares during the last quarter. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.