Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Sees Significant Decrease in Short Interest

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,140,000 shares, a decline of 21.3% from the August 15th total of 3,990,000 shares. Approximately 5.1% of the company’s shares are sold short. Based on an average daily volume of 463,400 shares, the short-interest ratio is presently 6.8 days.

A number of hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC bought a new position in Atlantica Sustainable Infrastructure during the 1st quarter valued at about $30,000. Truvestments Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure in the second quarter worth approximately $37,000. Quantbot Technologies LP purchased a new stake in Atlantica Sustainable Infrastructure in the first quarter worth approximately $39,000. Captrust Financial Advisors grew its position in Atlantica Sustainable Infrastructure by 38.5% in the 1st quarter. Captrust Financial Advisors now owns 1,400 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 389 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter valued at $54,000. 42.64% of the stock is currently owned by institutional investors and hedge funds.

AY has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Atlantica Sustainable Infrastructure from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. Raymond James restated an “outperform” rating and issued a $47.00 price objective on shares of Atlantica Sustainable Infrastructure in a report on Wednesday, August 4th. UBS Group started coverage on shares of Atlantica Sustainable Infrastructure in a research report on Thursday, August 26th. They set a “neutral” rating and a $40.00 price target on the stock. Tudor Pickering initiated coverage on shares of Atlantica Sustainable Infrastructure in a report on Monday, June 28th. They issued a “hold” rating and a $42.00 price objective for the company. Finally, Zacks Investment Research cut Atlantica Sustainable Infrastructure from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Atlantica Sustainable Infrastructure currently has an average rating of “Hold” and an average target price of $42.67.

AY stock opened at $35.98 on Tuesday. The company has a debt-to-equity ratio of 3.15, a quick ratio of 1.33 and a current ratio of 1.39. The firm has a 50 day moving average price of $38.29 and a 200-day moving average price of $37.29. Atlantica Sustainable Infrastructure has a 52-week low of $26.31 and a 52-week high of $48.49. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 109.03 and a beta of 0.65.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its earnings results on Monday, August 2nd. The utilities provider reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.30). The company had revenue of $375.99 million during the quarter. Atlantica Sustainable Infrastructure had a return on equity of 1.89% and a net margin of 2.87%. As a group, sell-side analysts forecast that Atlantica Sustainable Infrastructure will post 0.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Monday, August 30th. Atlantica Sustainable Infrastructure’s payout ratio is 1,433.33%.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure Plc engages in the ownership, management, and acquisition of renewable energy. It specializes in the following businesses: Renewable Energy; Natural Gas; Electrical Transmission; and Water. The Renewable Energy business includes production of electricity from solar power and wind plants.

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