Atlantic Power Corp (NYSE:AT) Sees Significant Increase in Short Interest

Atlantic Power Corp (NYSE:AT) (TSE:ATP) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 722,200 shares, a growth of 25.0% from the May 30th total of 577,800 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 454,100 shares, the short-interest ratio is presently 1.6 days.

In other Atlantic Power news, Director Gilbert Samuel Palter bought 3,500 shares of the stock in a transaction dated Tuesday, May 28th. The shares were bought at an average cost of $13.39 per share, with a total value of $46,865.00. Following the completion of the acquisition, the director now owns 18,500 shares of the company’s stock, valued at $247,715. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joseph Cofelice bought 20,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average cost of $2.37 per share, for a total transaction of $47,400.00. Following the completion of the acquisition, the executive vice president now directly owns 744,397 shares of the company’s stock, valued at approximately $1,764,220.89. The disclosure for this purchase can be found here. Insiders have acquired 98,500 shares of company stock valued at $265,015 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC grew its stake in shares of Atlantic Power by 64.1% during the fourth quarter. LPL Financial LLC now owns 16,890 shares of the utilities provider’s stock worth $37,000 after buying an additional 6,596 shares during the last quarter. Wiley BROS. Aintree Capital LLC grew its stake in shares of Atlantic Power by 94.7% during the first quarter. Wiley BROS. Aintree Capital LLC now owns 19,533 shares of the utilities provider’s stock worth $49,000 after buying an additional 9,500 shares during the last quarter. Cetera Advisor Networks LLC bought a new stake in shares of Atlantic Power during the first quarter worth $53,000. BNP Paribas Arbitrage SA grew its stake in shares of Atlantic Power by 116.6% during the first quarter. BNP Paribas Arbitrage SA now owns 23,444 shares of the utilities provider’s stock worth $59,000 after buying an additional 12,619 shares during the last quarter. Finally, First Quadrant L P CA bought a new stake in shares of Atlantic Power during the first quarter worth $61,000. 60.39% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, National Bank Financial set a C$1.90 price objective on shares of Troilus Gold and gave the company an “outperform” rating in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $2.88.

Shares of NYSE:AT opened at $2.62 on Friday. The company has a 50 day moving average price of $2.39. The company has a market capitalization of $287.40 million, a PE ratio of 16.38 and a beta of 0.95. The company has a debt-to-equity ratio of 130.98, a current ratio of 1.01 and a quick ratio of 0.91. Atlantic Power has a 1 year low of $2.05 and a 1 year high of $3.02.

Atlantic Power (NYSE:AT) (TSE:ATP) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $73.00 million for the quarter. Atlantic Power had a net margin of 9.23% and a negative return on equity of 189.57%. As a group, sell-side analysts predict that Atlantic Power will post 0.24 EPS for the current fiscal year.

Atlantic Power Company Profile

Atlantic Power Corp. is a power producer company, which engages in owning power generation assets. The firm operates through its segments: East U.S., West U.S., Canada and Un-Allocated Corporate. It projects sell electricity and steam to investment-grade utilities and creditworthy large customers under long term Power Purchase Agreements.

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