Polaris Renewable Energy (TSE:PIF) Shares Cross Above 50 Day Moving Average – Here’s Why

by · The Markets Daily

Polaris Renewable Energy Inc. (TSE:PIF – Get Free Report) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$12.93 and traded as high as C$13.40. Polaris Renewable Energy shares last traded at C$13.21, with a volume of 31,342 shares.

Analyst Upgrades and Downgrades

Separately, Raymond James raised their price objective on shares of Polaris Renewable Energy from C$19.00 to C$21.00 and gave the stock a “strong-buy” rating in a report on Friday, November 1st.

Get Our Latest Analysis on Polaris Renewable Energy

Polaris Renewable Energy Stock Performance

The company’s fifty day simple moving average is C$12.93 and its 200 day simple moving average is C$12.63. 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 stock has a market capitalization of C$276.15 million, a P/E ratio of 26.20, a P/E/G ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a $0.203 dividend. This represents a $0.81 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Friday, November 8th. Polaris Renewable Energy’s payout ratio is 164.00%.

Insider Buying and Selling at Polaris Renewable Energy

In related news, Director Marc Murnaghan acquired 41,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were purchased at an average price of C$12.49 per share, for a total transaction of C$518,413.85. Insiders own 2.94% of the company’s stock.

About Polaris Renewable Energy

(Get Free Report)

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.

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