Polaris Renewable Energy (TSE:PIF) Shares Pass Below Fifty Day Moving Average - Here's Why

Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report)'s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$12.97 and traded as low as C$12.30. Polaris Renewable Energy shares last traded at C$12.41, with a volume of 44,561 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Cormark upped their target price on shares of Polaris Renewable Energy from C$23.50 to C$25.00 in a report on Thursday, January 30th. Raymond James upgraded shares of Polaris Renewable Energy to a "strong-buy" rating in a report on Friday. Finally, National Bankshares reduced their target price on shares of Polaris Renewable Energy from C$23.00 to C$22.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th.

Polaris Renewable Energy Stock Performance

The stock's fifty day simple moving average is C$12.93 and its 200-day simple moving average is C$12.59. The company has a debt-to-equity ratio of 57.48, a quick ratio of 1.64 and a current ratio of 1.82. The company has a market capitalization of C$176.11 million, a PE ratio of 24.55, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Friday, February 14th. Polaris Renewable Energy's dividend payout ratio is currently 169.88%.

Insider Activity

In other news, Director Marc Murnaghan sold 2,301 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of C$12.52, for a total transaction of C$28,808.52. Corporate insiders own 2.94% of the company's stock.

Polaris Renewable Energy Company Profile

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.