Polaris Renewable Energy (TSE:PIF) Share Price Passes Below Fifty Day Moving Average - Should You Sell?

Key Points

• Polaris Renewable Energy's stock has fallen below its 50-day moving average of C$11.98, indicating potential bearish sentiment among investors.
• Analysts have had mixed opinions; Raymond James downgraded the stock from "strong-buy" to "moderate buy," while the National Bank Financial upgraded it to "strong-buy."
• The company recently paid a quarterly dividend of $0.15 per share, resulting in a dividend yield of 4.94%, despite a high payout ratio of 169.88%.

Polaris Renewable Energy Inc. (TSE:PIF - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$11.98 and traded as low as C$11.97. Polaris Renewable Energy shares last traded at C$12.14, with a volume of 25,883 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James Financial downgraded shares of Polaris Renewable Energy from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, May 1st. National Bank Financial raised shares of Polaris Renewable Energy to a "strong-buy" rating in a research report on Sunday, June 8th.

Polaris Renewable Energy Price Performance

The company has a debt-to-equity ratio of 57.48, a current ratio of 1.82 and a quick ratio of 1.64. The company has a 50-day simple moving average of C$12.00 and a two-hundred day simple moving average of C$12.06. The stock has a market capitalization of C$180.87 million, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97.

Polaris Renewable Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Monday, May 12th. Polaris Renewable Energy's dividend payout ratio (DPR) is 169.88%.

Insider Activity at Polaris Renewable Energy

In other Polaris Renewable Energy news, Director Marc Murnaghan purchased 7,500 shares of the stock in a transaction dated Thursday, June 12th. The shares were bought at an average cost of C$11.98 per share, with a total value of C$89,850.00. Company insiders own 2.94% of the company's stock.

About Polaris Renewable Energy

Polaris Infrastructure Inc is engaged in the acquisition, exploration, development and operation of geothermal and hydroelectric energy projects. The company, through its subsidiaries, owns and operates a 72-megawatt capacity geothermal facility (the San Jacinto Project), located in northwest Nicaragua.