Atlantic Power (NYSE:AT) (TSE:ATP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Atlantic Power Corporation is an independent electric power producer that owns interests in a diversified portfolio of independent, non-utility power generation projects and one transmission line situated in major U.S. markets. “

Separately, TD Securities reissued a “hold” rating and issued a $2.50 target price on shares of Atlantic Power in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $2.57.

Atlantic Power (AT) remained flat at $$2.30 during mid-day trading on Friday. 630,600 shares of the stock were exchanged, compared to its average volume of 384,337. The company has a debt-to-equity ratio of 30.07, a quick ratio of 0.97 and a current ratio of 1.07. Atlantic Power has a 52-week low of $2.20 and a 52-week high of $2.70. The stock has a market capitalization of $264.99, a P/E ratio of -4.18 and a beta of 1.73.

In other news, Director Gilbert Samuel Palter bought 35,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were purchased at an average cost of $2.35 per share, with a total value of $82,250.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in Atlantic Power by 141.2% in the 3rd quarter. Jane Street Group LLC now owns 41,795 shares of the utilities provider’s stock valued at $102,000 after buying an additional 24,467 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Atlantic Power by 87.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 52,701 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 24,655 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Atlantic Power by 87.3% during the 2nd quarter. Prudential Financial Inc. now owns 55,782 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 26,000 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in Atlantic Power by 10.6% during the 2nd quarter. Nationwide Fund Advisors now owns 71,880 shares of the utilities provider’s stock worth $173,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in Atlantic Power during the 3rd quarter worth $180,000. 47.68% of the stock is currently owned by hedge funds and other institutional investors.

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About Atlantic Power

Atlantic Power Corporation (Atlantic Power) owns and operates a fleet of power generation assets in the United States and Canada. The Company’s power generation projects sell electricity to utilities and other commercial customers. Atlantic Power’s segments include East U.S., West U.S. and Canada. The Company’s East U.S.

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