Polaris Renewable Energy (TSE:PIF) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Polaris Renewable Energy Inc. (TSE:PIF) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$12.93 and traded as high as C$13.40. Polaris Renewable Energy shares last traded at C$13.21, with a volume of 31,342 shares changing hands.

Wall Street Analyst Weigh In

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

Polaris Renewable Energy Price Performance

The company has a debt-to-equity ratio of 62.63, a current ratio of 1.86 and a quick ratio of 1.64. The company has a market capitalization of C$278.47 million, a PE ratio of 26.42, a PEG ratio of 3.28 and a beta of 0.97. The firm has a 50-day moving average of C$12.93 and a 200 day moving average of C$12.63.

Polaris Renewable Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend was Friday, November 8th. Polaris Renewable Energy’s payout ratio is presently 164.00%.

Insider Transactions at Polaris Renewable Energy

In other news, Director Marc Murnaghan acquired 41,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was bought at an average price of C$12.49 per share, with a total value of C$518,413.85. Company 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.