Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated at StockNews.com

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

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ AY opened at $22.02 on Tuesday. The company has a 50 day simple moving average of $21.98 and a two-hundred day simple moving average of $21.81. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.82 and a fifty-two week high of $23.47. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 47.87, a P/E/G ratio of 2.14 and a beta of 1.03. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.30 and a current ratio of 1.35.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The company had revenue of $328.26 million during the quarter, compared to analysts’ expectations of $315.07 million. Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. Analysts expect that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of AY. Insight Folios Inc lifted its holdings in shares of Atlantica Sustainable Infrastructure by 7.1% during the 1st quarter. Insight Folios Inc now owns 24,640 shares of the utilities provider’s stock valued at $455,000 after buying an additional 1,640 shares during the period. American Institute for Advanced Investment Management LLP bought a new position in Atlantica Sustainable Infrastructure in the first quarter valued at about $203,000. Commonwealth Equity Services LLC boosted its position in Atlantica Sustainable Infrastructure by 4.1% in the first quarter. Commonwealth Equity Services LLC now owns 28,801 shares of the utilities provider’s stock worth $532,000 after purchasing an additional 1,132 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Atlantica Sustainable Infrastructure by 4.3% during the 1st quarter. Private Advisor Group LLC now owns 20,918 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 864 shares during the period. Finally, Mission Wealth Management LP increased its position in shares of Atlantica Sustainable Infrastructure by 54.9% during the 1st quarter. Mission Wealth Management LP now owns 40,539 shares of the utilities provider’s stock valued at $749,000 after purchasing an additional 14,364 shares during the last quarter. Institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

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.