Polaris Renewable Energy (TSE:PIF) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF) shares crossed 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 traded.

Wall Street Analysts Forecast Growth

Separately, Raymond James lifted 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.

Polaris Renewable Energy Stock Performance

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 company has a market cap 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. The firm’s 50-day simple moving average is C$13.01 and its two-hundred day simple moving average is C$12.63.

Polaris Renewable Energy Cuts Dividend

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

Insider Buying and Selling

In related news, Director Marc Murnaghan purchased 41,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were bought at an average cost of C$12.49 per share, with a total value of C$518,413.85. 2.94% of the stock is currently owned by company insiders.

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.