Polaris Renewable Energy (TSE:PIF) Stock Crosses Above 50 Day Moving Average – Here’s Why

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$12.93 and traded as high as C$13.40. Polaris Renewable Energy shares last traded at C$13.21, with a volume of 31,342 shares traded.

Analyst Ratings Changes

Separately, Raymond James upped their target price on shares of Polaris Renewable Energy from C$19.00 to C$21.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 1st.

Polaris Renewable Energy Trading Down 1.6 %

The stock has a market cap of C$278.47 million, a price-to-earnings ratio of 26.42, a P/E/G ratio of 3.28 and a beta of 0.97. The business has a 50-day simple moving average of C$12.93 and a two-hundred day simple moving average of C$12.63. The company has a debt-to-equity ratio of 62.63, a quick ratio of 1.64 and a current ratio of 1.86.

Polaris Renewable Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were given a dividend of $0.203 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.81 annualized dividend and a yield of 6.15%. Polaris Renewable Energy’s dividend payout ratio (DPR) is presently 164.00%.

Insider Buying and Selling at Polaris Renewable Energy

In other news, Director Marc Murnaghan purchased 41,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was purchased at an average price of C$12.49 per share, for a total transaction of C$518,413.85. Corporate insiders own 2.94% of the company’s stock.

About Polaris Renewable Energy

Polaris Renewable Energy Inc engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America. It operates 82 megawatts (MW) net geothermal facility in Nicaragua; and 3 run-of-river hydroelectric facilities in Peru, with combined capacity of approximately 33 MW; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama.