Polaris Renewable Energy (TSE:PIF) Stock Crosses Above 50 Day Moving Average – Here’s Why

Polaris Renewable Energy Inc. (TSE:PIF)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$12.10 and traded as high as C$12.55. Polaris Renewable Energy shares last traded at C$12.47, with a volume of 36,122 shares traded.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial raised their price objective on Polaris Renewable Energy from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$21.00.

Polaris Renewable Energy Stock Down 0.2%

The company’s fifty day simple moving average is C$12.10 and its 200 day simple moving average is C$12.63. The company has a current ratio of 1.82, a quick ratio of 1.64 and a debt-to-equity ratio of 57.48. The firm has a market capitalization of C$261.67 million, a P/E ratio of -23.09, a price-to-earnings-growth ratio of 3.28 and a beta of 0.60.

Polaris Renewable Energy (TSE:PIF) last posted its earnings results on Thursday, October 30th. The company reported C($0.02) earnings per share for the quarter. The firm had revenue of C$26.51 million for the quarter. Polaris Renewable Energy had a return on equity of 2.68% and a net margin of 9.49%. Research analysts expect that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current year.

About Polaris Renewable Energy

Polaris Infrastructure Inc is engaged in the acquisition, exploration, development and operation of geothermal and hydroelectric energy projects. The company, through its subsidiaries, owns and operates a 72-megawatt capacity geothermal facility (the San Jacinto Project), located in northwest Nicaragua.