Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Large Volume Increase – Here’s Why

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) saw strong trading volume on Wednesday . 3,495,773 shares traded hands during trading, an increase of 187% from the previous session’s volume of 1,220,144 shares.The stock last traded at $22.14 and had previously closed at $22.13.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research note on Friday. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Atlantica Sustainable Infrastructure presently has an average rating of “Hold” and a consensus price target of $22.20.

Atlantica Sustainable Infrastructure Trading Down 0.0 %

The firm has a market capitalization of $2.57 billion, a P/E ratio of 76.34, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.20 and a current ratio of 1.25. The firm has a 50 day moving average price of $22.01 and a two-hundred day moving average price of $22.09.

Atlantica Sustainable Infrastructure Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 306.90%.

Institutional Trading of Atlantica Sustainable Infrastructure

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Atlantica Sustainable Infrastructure in the third quarter valued at $44,000. Melqart Asset Management UK Ltd raised its holdings in shares of Atlantica Sustainable Infrastructure by 4.2% during the third quarter. Melqart Asset Management UK Ltd now owns 1,337,755 shares of the utilities provider’s stock worth $29,404,000 after acquiring an additional 53,680 shares in the last quarter. Centiva Capital LP raised its holdings in shares of Atlantica Sustainable Infrastructure by 13.5% during the third quarter. Centiva Capital LP now owns 125,755 shares of the utilities provider’s stock worth $2,764,000 after acquiring an additional 15,000 shares in the last quarter. ClearAlpha Technologies LP raised its holdings in shares of Atlantica Sustainable Infrastructure by 10.1% during the third quarter. ClearAlpha Technologies LP now owns 148,327 shares of the utilities provider’s stock worth $3,260,000 after acquiring an additional 13,587 shares in the last quarter. Finally, Athos Capital Ltd raised its holdings in shares of Atlantica Sustainable Infrastructure by 10.1% during the third quarter. Athos Capital Ltd now owns 220,100 shares of the utilities provider’s stock worth $4,838,000 after acquiring an additional 20,100 shares in the last quarter. Hedge funds and other institutional investors 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.