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

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

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

Atlantica Sustainable Infrastructure Stock Performance

AY opened at $22.03 on Friday. The firm has a market capitalization of $2.56 billion, a PE ratio of 47.89, a P/E/G 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 firm has a 50 day moving average of $22.04 and a two-hundred day moving average of $21.17. 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 issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm 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%. On average, analysts anticipate that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter worth $30,000. Riverview Trust Co acquired a new stake in Atlantica Sustainable Infrastructure during the 1st quarter worth $42,000. Headlands Technologies LLC boosted its stake in Atlantica Sustainable Infrastructure by 499.4% during the 2nd 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 boosted its stake in Atlantica Sustainable Infrastructure by 12.8% during the 1st 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 acquired a new stake in Atlantica Sustainable Infrastructure during the 1st quarter worth $196,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

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.