Polaris Renewable Energy (TSE:PIF) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price 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 traded.

Wall Street Analyst Weigh In

Separately, Raymond James lifted their price target on Polaris Renewable Energy from C$19.00 to C$21.00 and gave the company a “strong-buy” rating in a research report on Friday, November 1st.

Polaris Renewable Energy Stock Performance

The company has a market capitalization of C$278.47 million, a PE ratio of 26.42, a PEG ratio of 3.28 and a beta of 0.97. The business’s 50-day moving average is C$12.93 and its 200-day moving average is C$12.63. The company has a debt-to-equity ratio of 62.63, a quick ratio of 1.64 and a current ratio of 1.86.

Polaris Renewable Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend was Friday, November 8th. Polaris Renewable Energy’s dividend payout ratio is 164.00%.

Insider Activity

In related news, Director Marc Murnaghan purchased 41,500 shares of Polaris Renewable Energy stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of C$12.49 per share, for a total transaction of C$518,413.85. Company insiders own 2.94% of the company’s stock.

Polaris Renewable Energy Company Profile

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.