Polaris Renewable Energy (TSE:PIF) Shares Pass Above 50 Day Moving Average – Here’s Why

Polaris Renewable Energy Inc. (TSE:PIF) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$13.01 and traded as high as C$13.46. Polaris Renewable Energy shares last traded at C$13.14, with a volume of 52,695 shares changing hands.

Analysts Set New Price Targets

Separately, Raymond James boosted their target price on Polaris Renewable Energy from C$19.00 to C$21.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 1st.

Polaris Renewable Energy Trading Down 0.8 %

The company has a 50 day simple moving average of C$13.01 and a 200 day simple moving average of C$12.63. The company has a current ratio of 1.86, a quick ratio of 1.64 and a debt-to-equity ratio of 62.63. The stock has a market capitalization of C$276.99 million, a PE ratio of 26.28, a P/E/G ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.203 per share. This represents a $0.81 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend was Friday, November 8th. Polaris Renewable Energy’s dividend payout ratio (DPR) is presently 164.00%.

Insider Activity at Polaris Renewable Energy

In other news, Director Marc Murnaghan acquired 41,500 shares of Polaris Renewable Energy stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of C$12.49 per share, for a total transaction of C$518,413.85. 2.94% of the stock is currently owned by insiders.

Polaris Renewable Energy Company Profile

Polaris Renewable Energy Inc engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America. It operates 82 megawatts (MW) net geothermal facility in Nicaragua; and 3 run-of-river hydroelectric facilities in Peru, with combined capacity of approximately 33 MW; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama.