Innergex Renewable Energy (TSE:INE) Sets New 12-Month Low – Should You Sell?

Innergex Renewable Energy Inc. (TSE:INE) shares reached a new 52-week low during trading on Tuesday . The company traded as low as C$6.98 and last traded at C$7.00, with a volume of 61039 shares trading hands. The stock had previously closed at C$7.12.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Cormark dropped their target price on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. Scotiabank decreased their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Finally, CIBC dropped their target price on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Innergex Renewable Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$11.94.

Innergex Renewable Energy Trading Down 1.3 %

The company’s fifty day moving average is C$7.96 and its 200-day moving average is C$8.93. The stock has a market cap of C$1.43 billion, a PE ratio of -10.82, a PEG ratio of 20.61 and a beta of 0.36. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.