TransAlta Renewables Inc. (OTCMKTS:TRSWF) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,652,400 shares, a decline of 19.8% from the August 15th total of 2,059,100 shares. Based on an average daily volume of 9,200 shares, the short-interest ratio is presently 179.6 days.
Several research firms recently weighed in on TRSWF. CIBC lifted their target price on TransAlta Renewables from C$20.00 to C$21.00 and gave the company a “neutral” rating in a research report on Wednesday, July 21st. TD Securities raised their price target on TransAlta Renewables from C$20.00 to C$21.00 and gave the company a “hold” rating in a report on Wednesday, August 11th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.17.
Shares of TRSWF stock opened at $15.52 on Thursday. TransAlta Renewables has a 12-month low of $11.89 and a 12-month high of $19.20. The stock’s 50-day moving average price is $16.40 and its 200-day moving average price is $16.26.
TransAlta Renewables, Inc engages in the acquisition of renewable power generation facilities in operation or under construction. It operates through the following segments: Canadian Wind, Canadian Hydro and Canadian Gas. The Canadian Wind segment includes the result of the Le Nordais facility. The Canadian Hydro segment comprises of the outcome of the Ragged Chute facility.
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