Boralex (OTCMKTS:BRLXF) Stock Price Up 1.3% – Still a Buy?

Boralex Inc. (OTCMKTS:BRLXF) was up 1.3% during mid-day trading on Thursday . The stock traded as high as $18.9020 and last traded at $18.84. Approximately 114,537 shares changed hands during mid-day trading, an increase of 360% from the average daily volume of 24,913 shares. The stock had previously closed at $18.59.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Boralex in a research report on Tuesday, October 21st. Royal Bank Of Canada restated a “sector perform” rating on shares of Boralex in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Boralex Trading Up 5.6%

The company’s 50-day moving average price is $18.49 and its two-hundred day moving average price is $19.80.

About Boralex

Boralex (OTCMKTS:BRLXF) is a Canada-based independent power producer specializing in renewable energy. The company focuses on the development, construction, acquisition and operation of onshore wind farms, solar power facilities, small-scale hydroelectric stations and energy storage projects. Drawing on in-house engineering and project management expertise, Boralex provides comprehensive services that cover site selection, permitting, financing and long-term operations.

Since its founding in 1990 in Kingsey Falls, Quebec, Boralex has expanded its footprint beyond North America into Europe and the United Kingdom.