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

StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research note released on Tuesday. The brokerage issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY stock opened at $21.97 on Tuesday. Atlantica Sustainable Infrastructure has a 52-week low of $16.82 and a 52-week high of $23.47. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.30 and a current ratio of 1.35. The firm has a market capitalization of $2.55 billion, a P/E ratio of 47.76, a P/E/G ratio of 2.14 and a beta of 1.03. The stock has a 50 day moving average price of $21.98 and a 200 day moving average price of $21.81.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. The business had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. As a group, sell-side analysts predict that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Insight Folios Inc increased its holdings in Atlantica Sustainable Infrastructure by 2.4% during the 3rd quarter. Insight Folios Inc now owns 24,655 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 576 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter valued at $5,385,000. Handelsbanken Fonder AB increased its holdings in shares of Atlantica Sustainable Infrastructure by 23.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 26,991 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 5,200 shares during the period. Syquant Capital Sas purchased a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter valued at $1,826,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $30,000. 40.53% of the stock is currently owned by hedge funds and other institutional investors.

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.