Atlantic Power Corp (NYSE:AT) Sees Significant Decrease in Short Interest

Atlantic Power Corp (NYSE:AT) (TSE:ATP) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 559,400 shares, a decrease of 11.5% from the June 30th total of 632,200 shares. Based on an average trading volume of 435,800 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.5% of the shares of the company are short sold.

In related news, EVP Joseph Cofelice acquired 20,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost of $2.37 per share, with a total value of $47,400.00. Following the acquisition, the executive vice president now directly owns 744,397 shares in the company, valued at approximately $1,764,220.89. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gilbert Samuel Palter acquired 25,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $2.25 per share, with a total value of $56,250.00. The disclosure for this purchase can be found here. Insiders purchased a total of 98,500 shares of company stock valued at $265,015 over the last three months. 3.40% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of AT. Captrust Financial Advisors purchased a new position in shares of Atlantic Power in the second quarter valued at $37,000. Cetera Advisor Networks LLC bought a new stake in Atlantic Power in the first quarter worth $53,000. BNP Paribas Arbitrage SA lifted its position in Atlantic Power by 116.6% in the first quarter. BNP Paribas Arbitrage SA now owns 23,444 shares of the utilities provider’s stock worth $59,000 after buying an additional 12,619 shares during the last quarter. First Quadrant L P CA bought a new stake in Atlantic Power in the first quarter worth $61,000. Finally, Atria Investments LLC bought a new stake in Atlantic Power in the second quarter worth $77,000. 60.96% of the stock is owned by hedge funds and other institutional investors.



A number of equities research analysts have issued reports on the stock. National Bank Financial raised shares of Atlantic Power from an “underperform” rating to a “sector perform” rating in a report on Friday, May 3rd. Zacks Investment Research lowered shares of Atlantic Power from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, ValuEngine lowered shares of Atlantic Power from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $2.88.

AT stock opened at $2.40 on Wednesday. The firm has a fifty day simple moving average of $2.42. Atlantic Power has a fifty-two week low of $2.05 and a fifty-two week high of $3.02. The company has a debt-to-equity ratio of 70.34, a quick ratio of 0.79 and a current ratio of 0.89. The stock has a market capitalization of $253.77 million, a price-to-earnings ratio of 15.00 and a beta of 0.93.

About Atlantic Power

Atlantic Power Corp. is a power producer company, which engages in owning power generation assets. The firm operates through its segments: East U.S., West U.S., Canada and Un-Allocated Corporate. It projects sell electricity and steam to investment-grade utilities and creditworthy large customers under long term Power Purchase Agreements.

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