Atlantica Sustainable Infrastructure (NASDAQ:AY) Receives New Coverage from Analysts at StockNews.com

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

Atlantica Sustainable Infrastructure Price Performance

Shares of AY opened at $21.99 on Friday. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $23.47. The firm has a market capitalization of $2.55 billion, a PE ratio of 47.80, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.35 and a quick ratio of 1.30. The company’s fifty day moving average price is $22.01 and its 200-day moving average price is $21.54.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly 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). The company had revenue of $328.26 million for the quarter, compared to analysts’ expectations of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. On average, equities research analysts predict that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC lifted its holdings in Atlantica Sustainable Infrastructure by 110.8% in the 1st quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock valued at $181,595,000 after purchasing an additional 5,164,084 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Atlantica Sustainable Infrastructure in the second quarter worth about $23,699,000. Picton Mahoney Asset Management acquired a new position in Atlantica Sustainable Infrastructure during the second quarter worth about $13,719,000. Glazer Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter valued at about $13,629,000. Finally, Water Island Capital LLC acquired a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at about $13,438,000. 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.