Insider Selling: Polaris Renewable Energy Inc. (TSE:PIF) Director Sells C$28,808.52 in Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan sold 2,301 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of C$12.52, for a total value of C$28,808.52.

Polaris Renewable Energy Trading Down 2.0 %

TSE PIF opened at C$12.42 on Monday. The stock has a 50-day simple moving average of C$13.03 and a 200 day simple moving average of C$12.61. The company has a market capitalization of C$184.58 million, a PE ratio of 25.73, a P/E/G ratio of 3.28 and a beta of 0.97. The company has a current ratio of 1.82, a quick ratio of 1.64 and a debt-to-equity ratio of 57.48. Polaris Renewable Energy Inc. has a 12 month low of C$11.08 and a 12 month high of C$13.85.

Polaris Renewable Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 28th will be issued a $0.15 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.83%. Polaris Renewable Energy’s dividend payout ratio is presently 169.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PIF shares. National Bankshares dropped their target price on Polaris Renewable Energy from C$23.00 to C$22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Raymond James upped their price objective on Polaris Renewable Energy from C$19.00 to C$21.00 and gave the company a “strong-buy” rating in a report on Friday, November 1st. Finally, Cormark upped their price objective on Polaris Renewable Energy from C$23.50 to C$25.00 in a report on Thursday, January 30th.

About Polaris Renewable Energy

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.