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

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

A number of other brokerages also recently commented on AY. UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $22.00 in a research note on Thursday, May 30th. National Bankshares boosted their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 28th. Finally, Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Atlantica Sustainable Infrastructure presently has an average rating of “Hold” and a consensus target price of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

AY opened at $21.97 on Thursday. The firm has a market capitalization of $2.55 billion, a PE ratio of 47.76, a PEG ratio of 2.13 and a beta of 1.03. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $23.47. The firm’s 50-day moving average price is $22.04 and its 200 day moving average price is $21.03. 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 posted its quarterly 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). The business had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. As a group, sell-side analysts expect that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AY. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $30,000. Water Island Capital LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,438,000. Aristeia Capital L.L.C. acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $669,000. Glazer Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,629,000. Finally, Sagefield Capital LP purchased a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at $1,637,000. 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.