Polaris Renewable Energy (TSE:PIF) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of Polaris Renewable Energy Inc. (TSE:PIF) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$12.20 and traded as low as C$12.02. Polaris Renewable Energy shares last traded at C$12.10, with a volume of 84,527 shares traded.

Wall Street Analyst Weigh In

PIF has been the subject of a number of research reports. National Bank Financial increased their price objective on Polaris Renewable Energy from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Raymond James Financial cut their target price on Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$19.63.

Polaris Renewable Energy Stock Up 1.1%

The company has a current ratio of 5.25, a quick ratio of 1.64 and a debt-to-equity ratio of 91.31. The firm’s 50 day simple moving average is C$12.20 and its 200-day simple moving average is C$12.55. The stock has a market capitalization of C$252.83 million, a price-to-earnings ratio of -93.08, a price-to-earnings-growth ratio of 3.28 and a beta of 0.51.

Polaris Renewable Energy (TSE:PIF) last issued its quarterly earnings results on Thursday, February 19th. The company reported C$0.39 EPS for the quarter. Polaris Renewable Energy had a negative net margin of 3.29% and a negative return on equity of 1.09%. The firm had revenue of C$25.57 million for the quarter. Equities analysts expect that Polaris Renewable Energy Inc. will post 0.6481187 earnings per share for the current fiscal year.

Polaris Renewable Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 27th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.0%. The ex-dividend date was Tuesday, February 17th. Polaris Renewable Energy’s dividend payout ratio is presently -461.54%.

About Polaris Renewable Energy

Polaris Infrastructure Inc is engaged in the acquisition, exploration, development and operation of geothermal and hydroelectric energy projects. The company, through its subsidiaries, owns and operates a 72-megawatt capacity geothermal facility (the San Jacinto Project), located in northwest Nicaragua.