Boralex (TSE:BLX) Stock Passes Above 200 Day Moving Average – Should You Sell?

Boralex Inc. (TSE:BLX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$28.75 and traded as high as C$32.14. Boralex shares last traded at C$31.98, with a volume of 304,486 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BLX shares. Raymond James raised shares of Boralex to a “moderate buy” rating in a report on Thursday, May 15th. National Bankshares lowered their price objective on shares of Boralex from C$43.00 to C$42.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. Finally, BMO Capital Markets dropped their price objective on shares of Boralex from C$42.00 to C$39.00 in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$39.38.

Boralex Stock Performance

The business’s fifty day moving average price is C$29.82 and its 200-day moving average price is C$28.75. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. The stock has a market capitalization of C$3.33 billion, a PE ratio of 46.88, a P/E/G ratio of 2.01 and a beta of 0.46.

Insiders Place Their Bets

In related news, Director Patrick Decostre sold 8,671 shares of Boralex stock in a transaction on Monday, March 10th. The shares were sold at an average price of C$30.00, for a total value of C$260,130.00. Also, Director Ricky Fontaine bought 1,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of C$29.10 per share, with a total value of C$29,100.00. Corporate insiders own 0.16% of the company’s stock.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.