Atlantica Sustainable Infrastructure (NASDAQ:AY) Now Covered by StockNews.com

Investment analysts at StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a note issued to investors on Saturday. The firm set a “sell” rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY opened at $21.94 on Friday. The firm has a 50 day moving average of $22.03 and a 200-day moving average of $22.09. The stock has a market capitalization of $2.55 billion, a PE ratio of 75.66, a PEG ratio of 2.16 and a beta of 1.03. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. Atlantica Sustainable Infrastructure has a 12 month low of $16.82 and a 12 month high of $23.47.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of institutional investors have recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. increased its position in Atlantica Sustainable Infrastructure by 54.0% during the 3rd quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock worth $36,542,000 after purchasing an additional 582,821 shares in the last quarter. Melqart Asset Management UK Ltd increased its position in Atlantica Sustainable Infrastructure by 4.2% during the 3rd quarter. Melqart Asset Management UK Ltd now owns 1,337,755 shares of the utilities provider’s stock worth $29,404,000 after purchasing an additional 53,680 shares in the last quarter. Westchester Capital Management LLC increased its position in Atlantica Sustainable Infrastructure by 305.3% during the 3rd quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock worth $25,139,000 after purchasing an additional 861,541 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Atlantica Sustainable Infrastructure during the 2nd quarter worth approximately $13,719,000. Finally, Glazer Capital LLC acquired a new position in Atlantica Sustainable Infrastructure during the 2nd quarter worth approximately $13,629,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

About Atlantica Sustainable Infrastructure

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.