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

Polaris Renewable Energy Inc. (TSE:PIF) shares passed 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.

Wall Street Analyst Weigh In

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 report on Friday, November 1st.

Polaris Renewable Energy Stock Performance

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 stock has a market cap of C$276.15 million, a PE ratio of 26.20, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. The company’s 50 day simple moving average is C$12.93 and its 200 day simple moving average is C$12.63.

Polaris Renewable Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Friday, November 8th. Polaris Renewable Energy’s dividend payout ratio is currently 164.00%.

Insider Activity

In related news, Director Marc Murnaghan bought 41,500 shares of Polaris Renewable Energy stock in a transaction dated Wednesday, November 6th. The stock was purchased 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.

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.