Atlantica Sustainable Infrastructure (NASDAQ:AY) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research note released on Thursday. The firm issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Stock Performance

Shares of NASDAQ AY opened at $22.11 on Thursday. The stock’s fifty day simple moving average is $21.99 and its 200 day simple moving average is $22.05. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 67.00, a PEG ratio of 2.15 and a beta of 1.03. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 3.26. Atlantica Sustainable Infrastructure has a 52-week low of $16.82 and a 52-week high of $23.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its position in Atlantica Sustainable Infrastructure by 110.8% in the 1st quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock worth $181,595,000 after purchasing an additional 5,164,084 shares during the last quarter. Alpine Associates Management Inc. bought a new position in Atlantica Sustainable Infrastructure during the second quarter valued at approximately $23,699,000. Westchester Capital Management LLC lifted its stake in Atlantica Sustainable Infrastructure by 305.3% in the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock valued at $25,139,000 after acquiring an additional 861,541 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Atlantica Sustainable Infrastructure in the second quarter worth approximately $13,719,000. Finally, Glazer Capital LLC bought a new stake in Atlantica Sustainable Infrastructure in the second quarter worth approximately $13,629,000. 40.53% of the stock is owned by hedge funds and other institutional investors.

About Atlantica Sustainable Infrastructure

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.