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

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

AY has been the topic of several other research reports. BMO Capital Markets lifted their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. Bank of America cut their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. UBS Group lowered Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $22.00 in a research report on Thursday, May 30th. National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. Finally, Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.67.

Atlantica Sustainable Infrastructure Trading Up 0.2 %

AY stock opened at $22.05 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 3.25. The business’s 50-day moving average is $22.15 and its 200 day moving average is $20.12. Atlantica Sustainable Infrastructure has a 12-month low of $16.35 and a 12-month high of $25.22. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 1.31 and a beta of 1.02.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $242.93 million for the quarter, compared to analyst estimates of $240.87 million. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. During the same period last year, the company posted ($0.09) EPS. On average, sell-side analysts anticipate that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Institutional investors and hedge funds have recently bought and sold shares of the stock. Insight Folios Inc raised its holdings in shares of Atlantica Sustainable Infrastructure by 2.5% in the fourth quarter. Insight Folios Inc now owns 23,000 shares of the utilities provider’s stock valued at $494,000 after buying an additional 566 shares during the last quarter. Private Advisor Group LLC raised its holdings in Atlantica Sustainable Infrastructure by 4.3% during the first quarter. Private Advisor Group LLC now owns 20,918 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 864 shares in the last quarter. Rational Advisors LLC raised its holdings in Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,025 shares in the last quarter. Covestor Ltd grew its position in Atlantica Sustainable Infrastructure by 12.8% during the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock worth $173,000 after buying an additional 1,064 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in Atlantica Sustainable Infrastructure by 4.1% during the first quarter. Commonwealth Equity Services LLC now owns 28,801 shares of the utilities provider’s stock worth $532,000 after buying an additional 1,132 shares during the period. 40.53% of the stock is owned by hedge funds and other institutional investors.

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.