Innergex Renewable Energy (TSE:INE) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.07 and traded as high as C$13.50. Innergex Renewable Energy shares last traded at C$13.45, with a volume of 1,108,585 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on INE shares. National Bankshares downgraded Innergex Renewable Energy from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from C$16.00 to C$13.75 in a research note on Wednesday, February 26th. Scotiabank lowered their price target on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. TD Securities boosted their price target on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Cormark lowered their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Finally, Raymond James cut Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and upped their target price for the stock from C$11.50 to C$13.75 in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of C$11.59.

Innergex Renewable Energy Trading Up 0.1 %

The company has a market cap of C$2.77 billion, a price-to-earnings ratio of -21.65, a PEG ratio of 20.61 and a beta of 0.36. The firm has a 50 day moving average price of C$9.18 and a two-hundred day moving average price of C$9.15. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 620.44.

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Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada's best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.