Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Short Interest Down 12.9% in July

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 1,760,000 shares, a drop of 12.9% from the June 30th total of 2,020,000 shares. Currently, 2.6% of the company’s shares are short sold. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Rational Advisors LLC boosted its position in shares of Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,025 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Atlantica Sustainable Infrastructure during the first quarter valued at approximately $42,000. Clean Yield Group boosted its position in shares of Atlantica Sustainable Infrastructure by 71.4% during the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock valued at $129,000 after buying an additional 2,500 shares during the last quarter. Covestor Ltd boosted its position in shares of Atlantica Sustainable Infrastructure by 12.8% during the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after buying an additional 1,064 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Atlantica Sustainable Infrastructure during the first quarter valued at approximately $196,000. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Stock Up 0.3 %

Atlantica Sustainable Infrastructure stock traded up $0.07 during mid-day trading on Tuesday, reaching $22.09. The stock had a trading volume of 257,812 shares, compared to its average volume of 1,322,375. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $25.17. The stock’s 50-day simple moving average is $22.13 and its 200-day simple moving average is $20.20. The firm has a market capitalization of $2.56 billion, a PE ratio of 47.93, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. The firm had revenue of $242.93 million during the quarter, compared to analysts’ expectations of $240.87 million. During the same quarter last year, the firm posted ($0.09) earnings per share. On average, sell-side analysts forecast that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.445 per share. The ex-dividend date was Friday, May 31st. This represents a $1.78 annualized dividend and a dividend yield of 8.06%. Atlantica Sustainable Infrastructure’s payout ratio is 386.96%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AY shares. BMO Capital Markets raised their price objective on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. National Bankshares raised their target price on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. National Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. Seaport Res Ptn cut Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research note on Thursday, July 25th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Atlantica Sustainable Infrastructure currently has an average rating of “Hold” and an average price target of $22.67.

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.