Is There More Upside Ahead For Algonquin Power & Utilities Corp (NYSE: AQN)

Algonquin Power & Utilities Corp (AQN) concluded trading on Thursday at a closing price of $5.75, with 3.46 million shares of worth about $19.9 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -25.90% during that period and on Thursday the price saw a loss of about -0.69%. Currently the company’s common shares owned by public are about 712.14M shares, out of which, 688.48M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 16 times over the past 12 months. They bought 144,619 shares in 15 of the transactions. In 1 selling transactions, insiders dumped 20,000 shares.

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Stock saw a price change of -5.27% in past 5 days and over the past one month there was a price change of -12.61%. Year-to-date (YTD), AQN shares are showing a performance of -9.02% which decreased to -22.82% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.90 but also hit the highest price of $9.14 during that period. The average intraday trading volume for Algonquin Power & Utilities Corp shares is 4.06 million. The stock is currently trading -4.98% below its 20-day simple moving average (SMA20), while that difference is down -7.42% for SMA50 and it goes to -18.49% lower than SMA200.

Algonquin Power & Utilities Corp (NYSE: AQN) currently have 712.14M outstanding shares and institutions hold larger chunk of about 59.38% of that.

The stock has a current market capitalization of $4.09B and its 3Y-monthly beta is at 0.68. It has posted earnings per share of -$0.35 in the same period. It has Quick Ratio of 0.50 while making debt-to-equity ratio of 1.71. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AQN, volatility over the week remained 2.80% while standing at 3.17% over the month.

Analysts are in expectations that Algonquin Power & Utilities Corp (AQN) stock would likely to be making an EPS of $Accenture plc in the current quarter, while forecast for next quarter EPS is $368.48 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Algonquin Power & Utilities Cor which is $Aon plc at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Advent Technologies Holdings, I in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -26.92% while it is estimated to increase by 6.50% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on January 08, 2024 offering an Outperform rating for the stock and assigned a target price range of between $7 and $7.50 to it.

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