Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research report released on Tuesday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Stock Up 0.1 %

NASDAQ AY opened at $22.08 on Tuesday. Atlantica Sustainable Infrastructure has a 52 week low of $16.82 and a 52 week high of $23.47. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 3.26. The company has a market capitalization of $2.56 billion, a P/E ratio of 66.91, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03. The stock’s 50-day moving average price is $21.97 and its 200-day moving average price is $21.84.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. The firm had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. On average, equities research analysts predict that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC raised its stake in Atlantica Sustainable Infrastructure by 110.8% during the first quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock valued at $181,595,000 after purchasing an additional 5,164,084 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 2nd quarter valued at about $23,699,000. Picton Mahoney Asset Management bought a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at about $13,719,000. Glazer Capital LLC purchased a new position in Atlantica Sustainable Infrastructure in the second quarter worth about $13,629,000. Finally, Water Island Capital LLC bought a new stake in Atlantica Sustainable Infrastructure during the second quarter worth approximately $13,438,000. 40.53% of the stock is currently owned by hedge funds and other institutional investors.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.