Boralex (OTCMKTS:BRLXF) Trading 0.6% Higher – Time to Buy?

Shares of Boralex Inc. (OTCMKTS:BRLXF) rose 0.6% during mid-day trading on Wednesday . The company traded as high as $19.0950 and last traded at $19.0950. Approximately 8,655 shares changed hands during trading, a decline of 9% from the average daily volume of 9,533 shares. The stock had previously closed at $18.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada restated a “sector perform” rating on shares of Boralex in a research note on Monday, November 10th. CIBC reissued an “outperform” rating on shares of Boralex in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Boralex Price Performance

The company’s 50-day simple moving average is $18.43 and its 200-day simple moving average is $20.28.

About Boralex

Boralex (OTCMKTS:BRLXF) is a Canada-based independent power producer specializing in renewable energy. The company focuses on the development, construction, acquisition and operation of onshore wind farms, solar power facilities, small-scale hydroelectric stations and energy storage projects. Drawing on in-house engineering and project management expertise, Boralex provides comprehensive services that cover site selection, permitting, financing and long-term operations.

Since its founding in 1990 in Kingsey Falls, Quebec, Boralex has expanded its footprint beyond North America into Europe and the United Kingdom.