Bank of America Has Lowered Expectations for Central Puerto (NYSE:CEPU) Stock Price

Central Puerto (NYSE:CEPU) had its target price decreased by Bank of America from $29.00 to $28.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 94.11% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Central Puerto from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Central Puerto in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.75.

Central Puerto Stock Performance

CEPU traded up $0.78 during trading on Thursday, reaching $14.43. 287,504 shares of the company’s stock were exchanged, compared to its average volume of 309,180. Central Puerto has a 1 year low of $7.43 and a 1 year high of $18.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.28 and a quick ratio of 1.19. The stock has a market capitalization of $2.18 billion, a P/E ratio of 4.81 and a beta of 0.81. The company’s fifty day simple moving average is $14.11 and its 200-day simple moving average is $14.79.

Institutional Trading of Central Puerto

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in shares of Central Puerto in the 2nd quarter worth approximately $159,000. Bank of America Corp DE increased its position in shares of Central Puerto by 285.7% in the first quarter. Bank of America Corp DE now owns 132,818 shares of the company’s stock valued at $2,235,000 after buying an additional 98,380 shares in the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Central Puerto during the 1st quarter worth $4,814,000. Arrowstreet Capital Limited Partnership acquired a new stake in Central Puerto in the 1st quarter valued at about $271,000. Finally, Walleye Capital LLC acquired a new stake in Central Puerto in the 1st quarter valued at about $1,349,000. 2.97% of the stock is owned by hedge funds and other institutional investors.

About Central Puerto

Central Puerto SA is an Argentina-based electric power generation company whose American depositary shares trade on the New York Stock Exchange under the symbol CEPU. The company develops, owns, and operates power-generation facilities that supply electricity to Argentina’s interconnected power system.

Its generation portfolio includes thermal power plants, which primarily use natural gas and other fuels, as well as hydroelectric and renewable-energy assets. Central Puerto also develops and invests in new generation projects, including wind and solar facilities, to support the diversification of Argentina’s electricity supply.

Central Puerto was established in 1989 during the privatization and restructuring of Argentina’s electricity sector.