Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the utilities provider’s stock.

Separately, UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $22.00 in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.67.

Atlantica Sustainable Infrastructure Trading Up 0.1 %

Shares of NASDAQ:AY opened at $22.03 on Friday. The stock has a 50 day moving average of $22.04 and a 200 day moving average of $21.17. The company has a market cap of $2.56 billion, a PE ratio of 47.89, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03. Atlantica Sustainable Infrastructure has a 12-month low of $16.35 and a 12-month high of $23.47. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. The firm had revenue of $328.26 million for the quarter, compared to analysts’ expectations of $315.07 million. As a group, equities research analysts expect that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Atlantica Sustainable Infrastructure in the second quarter worth about $30,000. Riverview Trust Co bought a new position in shares of Atlantica Sustainable Infrastructure in the first quarter worth about $42,000. Headlands Technologies LLC grew its holdings in shares of Atlantica Sustainable Infrastructure by 499.4% in the second quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 3,411 shares during the last quarter. Covestor Ltd grew its holdings in shares of Atlantica Sustainable Infrastructure by 12.8% in the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Atlantica Sustainable Infrastructure in the first quarter worth about $196,000. Hedge funds and other institutional investors 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.