Polaris Renewable Energy (TSE:PIF) Shares Pass Above Fifty 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 Analysts Forecast Growth

Separately, Raymond James increased their target price on 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 current ratio of 1.86, a quick ratio of 1.64 and a debt-to-equity ratio of 62.63. The stock has a fifty day moving average price of C$12.93 and a 200-day moving average price of C$12.63. The firm has a market capitalization of C$276.15 million, a price-to-earnings ratio of 26.20, a PEG ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy Cuts Dividend

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

Insider Buying and Selling

In other news, Director Marc Murnaghan acquired 41,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were purchased at an average cost of C$12.49 per share, for a total transaction of C$518,413.85. 2.94% of the stock is owned by corporate insiders.

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.