Zacks Investment Research upgraded shares of Infrastructure and Energy Alternatives (NASDAQ:IEA) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. The brokerage currently has $2.50 price target on the stock.

According to Zacks, “Infrastructure and Energy Alternatives is a leading infrastructure construction company with specialized energy and heavy civil expertise. Headquartered in Indianapolis, Indiana, with operations throughout the country, the company offers a full spectrum of delivery models including full engineering, procurement, and construction (EPC), turnkey, design-build, balance of plant (BOP), and subcontracting services. The company one of three Tier 1 wind energy contractors in the U.S. and has completed more than 200 wind and solar projects across North America. “

Other equities research analysts also recently issued research reports about the company. DA Davidson decreased their target price on Infrastructure and Energy Alternatives from $5.00 to $3.00 and set a neutral rating for the company in a research report on Wednesday, November 13th. ValuEngine raised Infrastructure and Energy Alternatives from a hold rating to a buy rating in a research report on Thursday, August 1st.

Shares of NASDAQ IEA traded up $0.11 on Friday, hitting $2.29. The company had a trading volume of 76,600 shares, compared to its average volume of 232,470. Infrastructure and Energy Alternatives has a 12-month low of $1.81 and a 12-month high of $9.42. The company has a 50 day moving average price of $3.00. The firm has a market cap of $48.96 million, a price-to-earnings ratio of -2.86 and a beta of -0.03.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oaktree Capital Management LP acquired a new position in shares of Infrastructure and Energy Alternatives in the second quarter worth about $39,000. SG Americas Securities LLC lifted its stake in shares of Infrastructure and Energy Alternatives by 47.8% in the second quarter. SG Americas Securities LLC now owns 21,709 shares of the company’s stock worth $44,000 after acquiring an additional 7,024 shares in the last quarter. Crow Point Partners LLC acquired a new position in shares of Infrastructure and Energy Alternatives in the third quarter worth about $104,000. Jane Street Group LLC acquired a new position in shares of Infrastructure and Energy Alternatives in the second quarter worth about $138,000. Finally, Paloma Partners Management Co acquired a new position in shares of Infrastructure and Energy Alternatives in the second quarter worth about $141,000. 16.18% of the stock is owned by institutional investors.

Infrastructure and Energy Alternatives Company Profile

Infrastructure and Energy Alternatives, Inc, a diversified infrastructure construction company, provides engineering, procurement, and construction services for the renewable energy, traditional power, and civil infrastructure industries in the United States. It offers design, site development, construction, installation, and restoration of infrastructure services.

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