Atlantica Sustainable Infrastructure (NASDAQ:AY) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research note issued to investors on Tuesday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Trading Up 0.2 %

NASDAQ:AY opened at $22.06 on Tuesday. Atlantica Sustainable Infrastructure has a 12 month low of $16.82 and a 12 month high of $23.47. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The firm’s 50 day moving average is $21.98 and its 200 day moving average is $21.81. The stock has a market capitalization of $2.56 billion, a PE ratio of 47.96, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. The firm had revenue of $328.26 million during the quarter, compared to the consensus estimate of $315.07 million. Sell-side analysts expect that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Large investors have recently modified their holdings of the business. Insight Folios Inc boosted its holdings in shares of Atlantica Sustainable Infrastructure by 2.4% in the third quarter. Insight Folios Inc now owns 24,655 shares of the utilities provider’s stock worth $542,000 after acquiring an additional 576 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Atlantica Sustainable Infrastructure in the 3rd quarter worth about $5,385,000. Handelsbanken Fonder AB grew its holdings in Atlantica Sustainable Infrastructure by 23.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,991 shares of the utilities provider’s stock valued at $593,000 after buying an additional 5,200 shares in the last quarter. Syquant Capital Sas purchased a new position in Atlantica Sustainable Infrastructure during the 3rd quarter valued at about $1,826,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Atlantica Sustainable Infrastructure during the second quarter valued at about $30,000. Hedge funds and other institutional investors own 40.53% of the company’s stock.

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.