Polaris Renewable Energy (TSE:PIF) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$13.01 and traded as high as C$13.46. Polaris Renewable Energy shares last traded at C$13.14, with a volume of 52,695 shares traded.

Analyst Upgrades and Downgrades

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

Polaris Renewable Energy Stock Performance

The stock’s fifty day simple moving average is C$13.01 and its 200-day simple moving average is 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. The company has a market capitalization of C$276.99 million, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a $0.203 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.81 annualized dividend and a yield of 6.18%. Polaris Renewable Energy’s dividend payout ratio (DPR) is presently 164.00%.

Insider Transactions at Polaris Renewable Energy

In related news, Director Marc Murnaghan bought 41,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average cost of C$12.49 per share, with a total value of C$518,413.85. Insiders own 2.94% of the company’s stock.

Polaris Renewable Energy Company Profile

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.