Polaris Renewable Energy (TSE:PIF) Share Price Crosses Below 50-Day Moving Average – Should You Sell?

Polaris Renewable Energy Inc. (TSE:PIF) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$11.87 and traded as low as C$11.47. Polaris Renewable Energy shares last traded at C$11.54, with a volume of 29,652 shares trading hands.

Wall Street Analyst Weigh In

PIF has been the topic of several research analyst reports. National Bankshares cut their price objective on Polaris Renewable Energy from C$23.00 to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Raymond James upgraded shares of Polaris Renewable Energy to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Cormark increased their price target on shares of Polaris Renewable Energy from C$23.50 to C$25.00 in a research report on Thursday, January 30th.

Polaris Renewable Energy Stock Down 1.6 %

The firm has a market cap of C$171.50 million, a PE ratio of 23.91, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. The business has a 50-day moving average price of C$11.87 and a two-hundred day moving average price of C$12.47. The company has a quick ratio of 1.64, a current ratio of 1.82 and a debt-to-equity ratio of 57.48.

Polaris Renewable Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.20%. The ex-dividend date was Friday, February 14th. Polaris Renewable Energy’s payout ratio is presently 169.88%.

Insider Buying and Selling at Polaris Renewable Energy

In other Polaris Renewable Energy news, Director Marc Murnaghan sold 2,301 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of C$12.52, for a total transaction of C$28,808.52. Insiders own 2.94% of the company’s stock.

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.