Boralex (OTCMKTS:BRLXF) Trading 27.7% Higher – Time to Buy?

Boralex Inc. (OTCMKTS:BRLXF)’s stock price traded up 27.7% on Friday . The stock traded as high as $26.79 and last traded at $26.7580. 3,998 shares changed hands during trading, a decline of 89% from the average session volume of 37,369 shares. The stock had previously closed at $20.95.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank Of Canada restated a “sector perform” rating on shares of Boralex in a research note on Tuesday, May 12th. Raymond James Financial cut Boralex from an “outperform” rating to a “market perform” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Boralex Stock Performance

The firm has a 50-day moving average price of $25.24 and a 200-day moving average price of $21.11.

Boralex Company Profile

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.