Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated by Analysts at StockNews.com

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

A number of other brokerages also recently commented on AY. UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, May 30th. National Bankshares increased their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Tuesday, May 28th. Finally, Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Atlantica Sustainable Infrastructure currently has a consensus rating of “Hold” and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Stock Up 0.4 %

Shares of Atlantica Sustainable Infrastructure stock opened at $21.97 on Thursday. The company has a market cap of $2.55 billion, a P/E ratio of 47.76, a PEG ratio of 2.13 and a beta of 1.03. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.30 and a current ratio of 1.35. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $23.47. The firm has a fifty day moving average of $22.04 and a two-hundred day moving average of $21.03.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $328.26 million for the quarter, compared to analysts’ expectations of $315.07 million. Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. On average, analysts forecast that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of large investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Atlantica Sustainable Infrastructure during the 2nd quarter worth about $30,000. Riverview Trust Co acquired a new stake in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth about $42,000. Headlands Technologies LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 499.4% during the 2nd quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 3,411 shares during the last quarter. Covestor Ltd boosted its stake in shares of Atlantica Sustainable Infrastructure by 12.8% during the 1st quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth about $196,000. 40.53% of the stock is owned by institutional investors and hedge funds.

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.