Atlantica Yield PLC (NASDAQ:AY) Sees Significant Increase in Short Interest
Atlantica Yield PLC (NASDAQ:AY) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,230,000 shares, a growth of 10.8% from the December 15th total of 1,110,000 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily volume of 400,400 shares, the days-to-cover ratio is currently 3.1 days.
Several institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Atlantica Yield in the second quarter valued at about $35,000. Balentine LLC bought a new position in Atlantica Yield in the third quarter worth about $48,000. Cohen & Steers Inc. raised its holdings in Atlantica Yield by 21.1% in the second quarter. Cohen & Steers Inc. now owns 2,449 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 427 shares in the last quarter. BBVA USA Bancshares Inc. bought a new position in Atlantica Yield in the third quarter worth about $201,000. Finally, Barclays PLC raised its holdings in Atlantica Yield by 268.6% in the third quarter. Barclays PLC now owns 10,806 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 7,874 shares in the last quarter. 41.60% of the stock is owned by hedge funds and other institutional investors.
Shares of AY stock traded up $0.10 on Thursday, reaching $27.65. The company’s stock had a trading volume of 15,421 shares, compared to its average volume of 279,169. The stock’s fifty day simple moving average is $26.11 and its 200-day simple moving average is $24.44. Atlantica Yield has a 1 year low of $17.50 and a 1 year high of $27.51. The company has a current ratio of 1.23, a quick ratio of 1.21 and a debt-to-equity ratio of 2.81. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 65.76 and a beta of 0.52.
AY has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. BidaskClub downgraded shares of Atlantica Yield from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. ValuEngine raised shares of Atlantica Yield from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Royal Bank of Canada cut shares of Atlantica Yield from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $25.00 to $27.00 in a research note on Wednesday. Finally, Raymond James restated an “outperform” rating and set a $27.00 target price on shares of Atlantica Yield in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $27.75.
Atlantica Yield Company Profile
Atlantica Yield plc acquires, owns, and manages renewable energy, natural gas power, electric transmission lines, and water assets in the United States, Mexico, Peru, Chile, Uruguay, Spain, Algeria, and South Africa. As of December 31, 2018, it had 24 assets, including 1,496 megawatts (MW) of renewable energy generation assets comprising solar power and wind plants; 300 MW of natural gas power generation assets that produce electricity and steam from natural gas; 1,152 miles of electric transmission lines; and water desalination plants with an aggregate capacity of 10.5 million cubic feet per day.
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