Atlantic Power (TSE:ATP) Shares Pass Above 200 Day Moving Average of $3.07

Atlantic Power Co. (TSE:ATP) (NYSE:ATP)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$3.07 and traded as high as C$3.80. Atlantic Power shares last traded at C$3.78, with a volume of 81,814 shares.

ATP has been the subject of several recent research reports. TD Securities lowered shares of Atlantic Power from a “hold” rating to a “tender” rating and upped their price target for the stock from C$2.50 to C$3.03 in a research report on Monday, January 18th. National Bank Financial lowered shares of Atlantic Power from an “outperform” rating to a “tender” rating and upped their price target for the stock from C$2.60 to C$3.03 in a research report on Monday, January 18th.

The firm’s 50-day moving average price is C$3.63 and its 200 day moving average price is C$3.07. The firm has a market cap of C$339.12 million and a P/E ratio of 6.06. The company has a quick ratio of 0.54, a current ratio of 0.78 and a debt-to-equity ratio of 362.93.

Atlantic Power (TSE:ATP) (NYSE:ATP) last announced its earnings results on Thursday, March 4th. The company reported C$0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.12 by C$0.18. The company had revenue of C$93.45 million during the quarter. On average, equities analysts predict that Atlantic Power Co. will post 0.19 earnings per share for the current year.

About Atlantic Power (TSE:ATP)

Atlantic Power Corporation owns and operates a fleet of power generation assets in the United States and Canada. As of December 31, 2019, its portfolio consisted of twenty-one operating projects with an aggregate electric generating capacity of approximately 1,723 megawatts on a gross ownership basis and approximately 1,327 MW on a net ownership basis across eleven states in the United States and two provinces in Canada.

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