Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) Trading Down 9.6% – Here’s What Happened

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI)’s share price dropped 9.6% during mid-day trading on Wednesday . The stock traded as low as $31.33 and last traded at $31.91. Approximately 320,003 shares changed hands during trading, a decline of 69% from the average daily volume of 1,022,094 shares. The stock had previously closed at $35.28.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HASI. Royal Bank of Canada initiated coverage on shares of Hannon Armstrong Sustainable Infrastructure Capital in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $41.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Hannon Armstrong Sustainable Infrastructure Capital in a research report on Wednesday, September 4th. They set a “buy” rating and a $39.00 target price for the company. Mizuho lifted their price target on shares of Hannon Armstrong Sustainable Infrastructure Capital from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Citigroup increased their price objective on Hannon Armstrong Sustainable Infrastructure Capital from $24.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley raised their target price on Hannon Armstrong Sustainable Infrastructure Capital from $30.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.83.

Hannon Armstrong Sustainable Infrastructure Capital Stock Down 8.6 %

The company’s 50 day simple moving average is $34.14 and its 200-day simple moving average is $31.90. The company has a debt-to-equity ratio of 1.77, a quick ratio of 13.27 and a current ratio of 13.27. The firm has a market capitalization of $3.75 billion, a PE ratio of 14.50, a PEG ratio of 1.28 and a beta of 1.98.

Hedge Funds Weigh In On Hannon Armstrong Sustainable Infrastructure Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HASI. First Affirmative Financial Network boosted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 5.0% during the 3rd quarter. First Affirmative Financial Network now owns 8,129 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 384 shares during the last quarter. AQR Capital Management LLC grew its stake in Hannon Armstrong Sustainable Infrastructure Capital by 1.6% in the 2nd quarter. AQR Capital Management LLC now owns 24,262 shares of the real estate investment trust’s stock worth $718,000 after buying an additional 392 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 5.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 8,082 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 401 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Hannon Armstrong Sustainable Infrastructure Capital by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 29,138 shares of the real estate investment trust’s stock worth $862,000 after acquiring an additional 432 shares during the last quarter. Finally, Harrington Investments INC grew its position in Hannon Armstrong Sustainable Infrastructure Capital by 3.8% in the second quarter. Harrington Investments INC now owns 12,324 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 450 shares in the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

About Hannon Armstrong Sustainable Infrastructure Capital

Hannon Armstrong Sustainable Infrastructure Capital, Inc, through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, commercial and government receivables, real estate, and debt securities.