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

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$14.61 and traded as low as C$13.59. Polaris Renewable Energy shares last traded at C$13.70, with a volume of 30,597 shares trading hands.

Polaris Renewable Energy Stock Performance

The company’s 50-day simple moving average is C$14.57 and its 200 day simple moving average is C$13.92. The company has a current ratio of 4.75, a quick ratio of 1.64 and a debt-to-equity ratio of 93.21. The stock has a market cap of C$286.05 million, a P/E ratio of 72.05, a PEG ratio of 3.28 and a beta of 0.56.

Polaris Renewable Energy (TSE:PIF) last released its earnings results on Thursday, July 30th. The company reported C($0.06) earnings per share (EPS) for the quarter. The business had revenue of C$28.32 million during the quarter. Polaris Renewable Energy had a net margin of 5.34% and a return on equity of 1.73%. As a group, sell-side analysts expect that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 21st were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.60 annualized dividend and a yield of 4.4%. Polaris Renewable Energy’s payout ratio is currently 315.79%.

Insider Transactions at Polaris Renewable Energy

In other Polaris Renewable Energy news, Director Marc Murnaghan bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average cost of C$14.05 per share, with a total value of C$28,100.00. Following 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 position. 2.94% of the stock is owned by company 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).