Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Sees Significant Decline in Short Interest

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 2,280,000 shares, a decline of 14.3% from the May 31st total of 2,660,000 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average trading volume of 1,920,000 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AY. UBS Group lowered shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $22.00 in a research report on Thursday, May 30th. Bank of America lowered their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. Seaport Res Ptn lowered Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, BMO Capital Markets raised their target price on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Atlantica Sustainable Infrastructure has a consensus rating of “Hold” and a consensus target price of $22.67.

Atlantica Sustainable Infrastructure Trading Down 0.1 %

Shares of NASDAQ AY traded down $0.03 during mid-day trading on Tuesday, hitting $21.88. The stock had a trading volume of 1,620,835 shares, compared to its average volume of 1,377,038. The business has a 50 day moving average price of $21.95 and a two-hundred day moving average price of $20.10. Atlantica Sustainable Infrastructure has a 1 year low of $16.35 and a 1 year high of $25.22. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. The firm has a market cap of $2.54 billion, a P/E ratio of 47.57, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $242.93 million during the quarter, compared to analyst estimates of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. During the same quarter in the prior year, the company posted ($0.09) EPS. On average, equities analysts anticipate that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.445 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.78 annualized dividend and a yield of 8.14%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 386.96%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. bought a new stake in Atlantica Sustainable Infrastructure during the fourth quarter worth about $27,000. Rational Advisors LLC grew its stake in shares of Atlantica Sustainable Infrastructure by 113.8% in the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,025 shares during the last quarter. Riverview Trust Co bought a new position in Atlantica Sustainable Infrastructure during the 1st quarter valued at approximately $42,000. Clean Yield Group boosted its holdings in Atlantica Sustainable Infrastructure by 71.4% in the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Atlantica Sustainable Infrastructure by 12.8% in the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 1,064 shares during the last quarter. Institutional investors 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.