Polaris Renewable Energy (TSE:PIF) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of Polaris Renewable Energy Inc. (TSE:PIF) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$13.80 and traded as high as C$14.00. Polaris Renewable Energy shares last traded at C$13.85, with a volume of 94,689 shares changing hands.

Polaris Renewable Energy Stock Performance

The firm has a market cap of C$289.40 million, a price-to-earnings ratio of 72.89, a PEG ratio of 3.28 and a beta of 0.53. The company has a 50 day moving average of C$13.80 and a 200 day moving average of C$13.56. The company has a quick ratio of 1.64, a current ratio of 4.75 and a debt-to-equity ratio of 93.21.

Polaris Renewable Energy (TSE:PIF) last announced its earnings results on Thursday, November 5th. The company reported C($0.48) earnings per share (EPS) for the quarter. The company had revenue of C$27.06 million for the quarter. Polaris Renewable Energy had a return on equity of 1.73% and a net margin of 5.34%. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities research analysts expect that Polaris Renewable Energy Inc. will post 0.65 EPS for the current fiscal year.

Polaris Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 21st were paid a dividend of $0.15 per share. The ex-dividend date was Monday, August 10th. This represents a $0.60 dividend on an annualized basis and a yield of 4.3%. Polaris Renewable Energy’s dividend payout ratio (DPR) is presently 315.79%.

Insider Activity

In related news, Director Marc Murnaghan bought 2,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average price of C$14.05 per share, for a total transaction of C$28,100.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at C$56,200. This trade represents a 100.00% increase in their ownership of the stock. 2.94% of the stock is currently owned by insiders.

Polaris Renewable Energy Company Profile

Polaris Renewable Energy Inc is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Company’s operations include a geothermal plant (82 MW), four run-of river hydroelectric plants (39 MW), three solar (photovoltaic) projects (35 MW) and an onshore wind farm (26 MW).