Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Large Volume Increase – Should You Buy?

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) shares saw unusually-strong trading volume on Monday . Approximately 611,976 shares changed hands during mid-day trading, a decline of 49% from the previous session’s volume of 1,210,684 shares.The stock last traded at $22.08 and had previously closed at $22.08.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure in a report on Wednesday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlantica Sustainable Infrastructure has an average rating of “Hold” and an average target price of $22.20.

Atlantica Sustainable Infrastructure Stock Performance

The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The firm’s fifty day moving average price is $21.97 and its two-hundred day moving average price is $21.96. The stock has a market capitalization of $2.56 billion, a PE ratio of 66.91, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Atlantica Sustainable Infrastructure during the 2nd quarter valued at approximately $30,000. Headlands Technologies LLC raised its position in Atlantica Sustainable Infrastructure by 499.4% during the second quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock worth $90,000 after acquiring an additional 3,411 shares during the period. Covestor Ltd lifted its holdings in Atlantica Sustainable Infrastructure by 12.8% during the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 1,064 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure in the first quarter valued at about $196,000. Finally, Bright Futures Wealth Management LLC. purchased a new stake in shares of Atlantica Sustainable Infrastructure during the first quarter worth about $236,000. 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.