Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Sees Large Decrease in Short Interest

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,510,000 shares, a drop of 6.2% from the October 15th total of 1,610,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average trading volume of 707,900 shares, the short-interest ratio is currently 2.1 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in Atlantica Sustainable Infrastructure in the third quarter valued at $24,218,000. Invesco Ltd. raised its holdings in Atlantica Sustainable Infrastructure by 23.9% in the first quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock valued at $109,577,000 after acquiring an additional 601,826 shares in the last quarter. Norges Bank acquired a new stake in Atlantica Sustainable Infrastructure in the fourth quarter valued at $15,149,000. Millennium Management LLC raised its holdings in Atlantica Sustainable Infrastructure by 200.4% in the fourth quarter. Millennium Management LLC now owns 744,018 shares of the utilities provider’s stock valued at $19,270,000 after acquiring an additional 496,383 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its holdings in Atlantica Sustainable Infrastructure by 11.4% in the first quarter. Kayne Anderson Capital Advisors LP now owns 4,833,954 shares of the utilities provider’s stock valued at $142,892,000 after acquiring an additional 494,472 shares in the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

Atlantica Sustainable Infrastructure Trading Up 0.2 %

Shares of AY stock opened at $18.91 on Friday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 43.98 and a beta of 0.88. The company has a quick ratio of 1.70, a current ratio of 1.75 and a debt-to-equity ratio of 2.96. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $29.81. The firm’s 50 day moving average price is $19.01 and its two-hundred day moving average price is $22.15.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.445 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 9.41%. Atlantica Sustainable Infrastructure’s payout ratio is currently 413.95%.

Analyst Upgrades and Downgrades

Several analysts recently commented on AY shares. National Bank Financial reduced their price objective on shares of Atlantica Sustainable Infrastructure from $29.00 to $25.00 in a research note on Wednesday, October 11th. Raymond James cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $36.00 to $25.00 in a research note on Thursday, October 26th. BMO Capital Markets reduced their price objective on shares of Atlantica Sustainable Infrastructure from $27.00 to $25.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. Royal Bank of Canada reduced their price objective on shares of Atlantica Sustainable Infrastructure from $34.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Atlantica Sustainable Infrastructure from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlantica Sustainable Infrastructure currently has a consensus rating of “Hold” and an average price target of $24.63.

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 the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.