Polaris Renewable Energy (TSE:PIF) Trading Up 11.2% – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price was up 11.2% on Tuesday . The stock traded as high as C$14.75 and last traded at C$14.62. Approximately 139,087 shares changed hands during trading, an increase of 240% from the average daily volume of 40,860 shares. The stock had previously closed at C$13.15.

Analyst Ratings Changes

Separately, Raymond James Financial dropped their target price on Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Polaris Renewable Energy has a consensus rating of “Buy” and an average target price of C$19.63.

Polaris Renewable Energy Price Performance

The company has a fifty day moving average price of C$12.76 and a two-hundred day moving average price of C$12.32. The company has a current ratio of 4.90, a quick ratio of 1.64 and a debt-to-equity ratio of 91.92. The company has a market cap of C$308.51 million, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 3.28 and a beta of 0.62.

Polaris Renewable Energy (TSE:PIF) last announced its quarterly earnings results on Thursday, May 7th. The company reported C($0.04) earnings per share (EPS) for the quarter. The business had revenue of C$27.48 million during the quarter. Polaris Renewable Energy had a net margin of 9.00% and a return on equity of 2.96%. As a group, equities research analysts anticipate that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Thursday, May 14th. Polaris Renewable Energy’s dividend payout ratio (DPR) is 181.82%.

Insider Transactions at Polaris Renewable Energy

In other Polaris Renewable Energy news, Director Marc Murnaghan sold 20,000 shares of Polaris Renewable Energy stock in a transaction on Thursday, May 14th. The stock was sold at an average price of C$12.56, for a total value of C$251,200.00. Following the completion of the transaction, the director owned 488,501 shares in the company, valued at approximately C$6,135,572.56. The trade was a 3.93% decrease in their position. In the last ninety days, insiders acquired 30,000 shares of company stock valued at $378,800. Insiders own 2.94% of the company’s stock.

About Polaris Renewable Energy

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).