Atlantic Power Corp (NYSE:AT) (TSE:ATP) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 559,400 shares, a decline of 11.5% from the June 30th total of 632,200 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 435,800 shares, the short-interest ratio is presently 1.3 days.
Several equities analysts have issued reports on AT shares. Zacks Investment Research lowered Atlantic Power from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. ValuEngine lowered Atlantic Power from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, National Bank Financial upgraded Atlantic Power from an “underperform” rating to a “sector perform” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.88.
In related news, Director Gilbert Samuel Palter bought 3,500 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of $13.39 per share, for a total transaction of $46,865.00. Following the completion of the purchase, the director now directly owns 18,500 shares of the company’s stock, valued at $247,715. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Cofelice bought 20,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was bought at an average price of $2.37 per share, for a total transaction of $47,400.00. Following the purchase, the executive vice president now directly owns 744,397 shares of the company’s stock, valued at $1,764,220.89. The disclosure for this purchase can be found here. Insiders acquired 98,500 shares of company stock worth $265,015 in the last quarter. 3.40% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of AT. JPMorgan Chase & Co. grew its stake in shares of Atlantic Power by 14.7% during the first quarter. JPMorgan Chase & Co. now owns 6,863,396 shares of the utilities provider’s stock worth $17,295,000 after acquiring an additional 881,715 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Atlantic Power during the first quarter worth about $1,735,000. Wells Fargo & Company MN grew its stake in shares of Atlantic Power by 39.0% during the second quarter. Wells Fargo & Company MN now owns 776,449 shares of the utilities provider’s stock worth $1,878,000 after acquiring an additional 218,039 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Atlantic Power by 126.7% during the first quarter. Acadian Asset Management LLC now owns 384,995 shares of the utilities provider’s stock worth $964,000 after acquiring an additional 215,195 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Atlantic Power by 9.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,133,367 shares of the utilities provider’s stock worth $5,350,000 after acquiring an additional 175,729 shares during the last quarter. Institutional investors and hedge funds own 60.96% of the company’s stock.
AT opened at $2.40 on Wednesday. Atlantic Power has a 1 year low of $2.05 and a 1 year high of $3.02. The stock has a market capitalization of $253.77 million, a price-to-earnings ratio of 15.00 and a beta of 0.93. The company has a debt-to-equity ratio of 70.34, a current ratio of 0.89 and a quick ratio of 0.79. The company has a 50-day moving average of $2.42.
About Atlantic Power
Atlantic Power Corp. is a power producer company, which engages in owning power generation assets. The firm operates through its segments: East U.S., West U.S., Canada and Un-Allocated Corporate. It projects sell electricity and steam to investment-grade utilities and creditworthy large customers under long term Power Purchase Agreements.
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