Polaris Renewable Energy (TSE:PIF) Trading Up 11.2% – Should You Buy?

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price was up 11.2% on Tuesday . The stock traded as high as C$14.75 and last traded at C$14.62. Approximately 139,087 shares were traded during mid-day trading, an increase of 240% from the average daily volume of 40,860 shares. The stock had previously closed at C$13.15.

Wall Street Analyst Weigh In

Separately, Raymond James Financial decreased their price target on shares of Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$19.63.

Polaris Renewable Energy Trading Down 0.3%

The company’s 50 day moving average price is C$12.86 and its two-hundred day moving average price is C$12.36. The company has a debt-to-equity ratio of 91.92, a current ratio of 4.90 and a quick ratio of 1.64. The stock has a market capitalization of C$303.71 million, a PE ratio of 44.03, a P/E/G ratio of 3.28 and a beta of 0.62.

Polaris Renewable Energy (TSE:PIF) last issued its earnings results on Thursday, May 7th. The company reported C($0.04) EPS for the quarter. Polaris Renewable Energy had a return on equity of 2.96% and a net margin of 9.00%.The firm had revenue of C$27.48 million for the quarter. As a group, analysts expect that Polaris Renewable Energy Inc. will post 0.6481187 earnings per share for the current year.

Polaris Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.1%. Polaris Renewable Energy’s payout ratio is 181.82%.

Insider Buying and Selling

In other Polaris Renewable Energy news, Director Marc Murnaghan sold 20,000 shares of Polaris Renewable Energy stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$12.56, for a total transaction of C$251,200.00. Following the transaction, the director directly owned 488,501 shares of the company’s stock, valued at C$6,135,572.56. The trade was a 3.93% decrease in their ownership of the stock. Insiders have bought 30,000 shares of company stock worth $378,800 over the last quarter. 2.94% of the stock is owned by insiders.

About Polaris Renewable Energy

Polaris Renewable Energy Inc is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Company’s operations include a geothermal plant (82 MW), four run-of river hydroelectric plants (39 MW), three solar (photovoltaic) projects (35 MW) and an onshore wind farm (26 MW).