Atlantica Sustainable Infrastructure (NASDAQ:AY) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research note issued on Monday. The firm set a “sell” rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Price Performance

Atlantica Sustainable Infrastructure stock opened at $21.99 on Monday. Atlantica Sustainable Infrastructure has a 1-year low of $16.82 and a 1-year high of $23.47. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 75.83, a P/E/G ratio of 2.14 and a beta of 1.00. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. The firm has a 50 day simple moving average of $22.03 and a 200 day simple moving average of $22.02.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of the company. Alpine Associates Management Inc. increased its position in shares of Atlantica Sustainable Infrastructure by 54.0% during the third quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock valued at $36,542,000 after buying an additional 582,821 shares during the period. Melqart Asset Management UK Ltd grew its holdings in Atlantica Sustainable Infrastructure by 4.2% in 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 purchasing an additional 53,680 shares during the period. Westchester Capital Management LLC grew its holdings in Atlantica Sustainable Infrastructure by 305.3% in the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock worth $25,139,000 after purchasing an additional 861,541 shares during the period. Picton Mahoney Asset Management purchased a new stake in Atlantica Sustainable Infrastructure in the second quarter worth about $13,719,000. Finally, Glazer Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure in the second quarter worth about $13,629,000. 40.53% of the stock is owned by institutional investors.

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.