Polaris Renewable Energy (TSE:PIF) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$12.97 and traded as low as C$12.30. Polaris Renewable Energy shares last traded at C$12.41, with a volume of 44,561 shares trading hands.

Wall Street Analyst Weigh In

PIF has been the topic of several recent analyst reports. National Bankshares reduced their target price on shares of Polaris Renewable Energy from C$23.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Raymond James boosted their price target on shares of Polaris Renewable Energy from C$19.00 to C$21.00 and gave the company a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cormark raised their price objective on shares of Polaris Renewable Energy from C$23.50 to C$25.00 in a report on Thursday, January 30th.

Polaris Renewable Energy Stock Up 0.3 %

The firm has a fifty day moving average price of C$12.97 and a 200 day moving average price of C$12.61. The company has a quick ratio of 1.64, a current ratio of 1.82 and a debt-to-equity ratio of 57.48. The company has a market cap of C$184.43 million, a P/E ratio of 25.71, a PEG ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy Cuts Dividend

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

Insiders Place Their Bets

In other news, Director Marc Murnaghan sold 2,301 shares of Polaris Renewable Energy 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. Insiders own 2.94% of the company’s stock.

Polaris Renewable Energy Company Profile

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.