Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Unusually-High Trading Volume – What’s Next?

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) saw strong trading volume on Monday . 611,976 shares were traded during trading, a decline of 49% from the previous session’s volume of 1,210,684 shares.The stock last traded at $22.08 and had previously closed at $22.08.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a research report on Tuesday, October 29th. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.20.

Atlantica Sustainable Infrastructure Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The company’s fifty day moving average is $21.97 and its two-hundred day moving average is $21.90. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 66.91, a P/E/G ratio of 2.15 and a beta of 1.03.

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

Institutional Trading of Atlantica Sustainable Infrastructure

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Atlantica Sustainable Infrastructure in the second quarter worth $30,000. Headlands Technologies LLC grew its stake in shares of Atlantica Sustainable Infrastructure by 499.4% in the second quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock worth $90,000 after acquiring an additional 3,411 shares in the last quarter. Covestor Ltd grew its stake in shares of Atlantica Sustainable Infrastructure by 12.8% in the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 1,064 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the first quarter worth $196,000. Finally, Bright Futures Wealth Management LLC. acquired a new position in shares of Atlantica Sustainable Infrastructure in the first quarter worth $236,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

About Atlantica Sustainable Infrastructure

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.