Boralex Inc. (OTCMKTS:BRLXF – Get Rating) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,243,400 shares, an increase of 18.4% from the March 31st total of 1,049,800 shares. Based on an average daily trading volume, of 2,000 shares, the short-interest ratio is currently 621.7 days.
Several brokerages have recently issued reports on BRLXF. National Bank Financial boosted their price objective on Boralex from C$44.00 to C$48.00 in a research report on Monday, April 11th. Scotiabank reduced their price objective on Boralex from C$45.25 to C$42.75 in a research report on Thursday, February 24th. Credit Suisse Group upgraded Boralex from a “neutral” rating to an “outperform” rating in a research report on Monday, January 24th. BMO Capital Markets boosted their price objective on Boralex from C$44.00 to C$45.00 in a research report on Tuesday. Finally, Desjardins boosted their price objective on Boralex from C$46.00 to C$47.00 in a research report on Thursday, April 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $45.34.
Shares of OTCMKTS:BRLXF opened at $30.32 on Wednesday. Boralex has a 12 month low of $24.08 and a 12 month high of $33.34. The stock’s 50 day moving average price is $30.72 and its 200 day moving average price is $28.61.
Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW.
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