StockNews.com Initiates Coverage on Atlantica Sustainable Infrastructure (NASDAQ:AY)

StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research report issued on Tuesday. The firm set a “sell” rating on the utilities provider’s stock.

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

Atlantica Sustainable Infrastructure Stock Performance

Shares of NASDAQ:AY opened at $22.05 on Tuesday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.55 and a quick ratio of 1.50. Atlantica Sustainable Infrastructure has a 12 month low of $16.35 and a 12 month high of $25.22. The firm has a market capitalization of $2.56 billion, a PE ratio of 47.93, a P/E/G ratio of 1.31 and a beta of 1.02. The business has a 50-day moving average of $22.15 and a two-hundred day moving average of $20.12.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. The firm had revenue of $242.93 million during the quarter, compared to analyst estimates of $240.87 million. During the same quarter last year, the firm earned ($0.09) EPS. As a group, research analysts forecast that Atlantica Sustainable Infrastructure will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of institutional investors have recently made changes to their positions in the business. Bright Futures Wealth Management LLC. bought a new position in shares of Atlantica Sustainable Infrastructure in the first quarter worth about $236,000. Cetera Advisors LLC increased its stake in Atlantica Sustainable Infrastructure by 58.3% during the first quarter. Cetera Advisors LLC now owns 16,775 shares of the utilities provider’s stock valued at $310,000 after acquiring an additional 6,177 shares during the period. Beck Bode LLC increased its stake in Atlantica Sustainable Infrastructure by 30.9% during the first quarter. Beck Bode LLC now owns 609,940 shares of the utilities provider’s stock valued at $11,272,000 after acquiring an additional 143,996 shares during the period. Swedbank AB bought a new position in Atlantica Sustainable Infrastructure during the first quarter valued at about $4,103,000. Finally, Virtu Financial LLC bought a new position in Atlantica Sustainable Infrastructure during the first quarter valued at about $196,000. 40.53% of the stock is currently owned by 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 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.