Polaris Renewable Energy (TSE:PIF) Shares Cross Above Fifty Day Moving Average – Here’s Why

Shares of Polaris Renewable Energy Inc. (TSE:PIF) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$13.01 and traded as high as C$13.46. Polaris Renewable Energy shares last traded at C$13.14, with a volume of 52,695 shares trading hands.

Analysts Set New Price Targets

Separately, Raymond James lifted their target price on shares of Polaris Renewable Energy from C$19.00 to C$21.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 1st.

Polaris Renewable Energy Price Performance

The firm has a market capitalization of C$276.99 million, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. The stock’s 50 day simple moving average is C$13.01 and its two-hundred day simple moving average is C$12.63. The company has a debt-to-equity ratio of 62.63, a quick ratio of 1.64 and a current ratio of 1.86.

Polaris Renewable Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date was Friday, November 8th. Polaris Renewable Energy’s dividend payout ratio (DPR) is currently 164.00%.

Insiders Place Their Bets

In other news, Director Marc Murnaghan purchased 41,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was acquired at an average price of C$12.49 per share, for a total transaction of C$518,413.85. Corporate insiders own 2.94% of the company’s stock.

About Polaris Renewable Energy

Polaris Renewable Energy Inc engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America. It operates 82 megawatts (MW) net geothermal facility in Nicaragua; and 3 run-of-river hydroelectric facilities in Peru, with combined capacity of approximately 33 MW; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama.