Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Unusually-High Trading Volume

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) shares saw unusually-high trading volume on Tuesday . Approximately 1,910,993 shares changed hands during trading, an increase of 108% from the previous session’s volume of 919,152 shares.The stock last traded at $20.17 and had previously closed at $18.51.

Wall Street Analysts Forecast Growth

AY has been the subject of a number of recent analyst reports. National Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. BMO Capital Markets decreased their price objective on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 5th. Royal Bank of Canada decreased their price objective on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. StockNews.com lowered Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Bank of America decreased their price objective 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $23.67.

Atlantica Sustainable Infrastructure Price Performance

The company has a 50 day moving average of $18.26 and a 200 day moving average of $18.99. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 47.55, a P/E/G ratio of 1.10 and a beta of 0.97. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The firm had revenue of $241.31 million for the quarter, compared to the consensus estimate of $243.81 million. During the same quarter last year, the business posted $0.03 EPS. Equities research analysts predict that Atlantica Sustainable Infrastructure plc will post 0.5 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

Institutional Trading of Atlantica Sustainable Infrastructure

Hedge funds and other institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $27,000. Rational Advisors LLC grew 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 during the period. Riverview Trust Co bought a new position in Atlantica Sustainable Infrastructure during the first quarter worth about $42,000. IFP Advisors Inc grew its holdings in Atlantica Sustainable Infrastructure by 37.1% during the third quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 698 shares during the period. Finally, Clear Street Markets LLC bought a new position in Atlantica Sustainable Infrastructure during the third quarter worth about $50,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

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.