The Renewables Infrastructure Group (LON:TRIG) Hits New 12-Month Low - Here's What Happened

Key Points

• 52-week low: TRIG hit a new 52-week low of GBX 63.50 (last GBX 63.89) on heavy volume (~4.4M shares) and is trading below its 50-day (GBX 67.53) and 200-day (GBX 71.16) moving averages.
• Insider buying: Company insiders have purchased 68,000 shares recently (including Tove Feld 22,000 at GBX 67 and John Whittle 40,000 at GBX 69), despite the share weakness; insiders own about 0.03% of the stock.
• Business profile: TRIG is a FTSE250 renewable infrastructure investment company with a market cap of £1.53 billion, operating a diversified portfolio of onshore/offshore wind, solar and battery projects and targeting capital growth and income.

The Renewables Infrastructure Group Limited (LON:TRIG - ) hit a new 52-week low during trading on Friday . The stock traded as low as GBX 63.50 and last traded at GBX 63.89, with a volume of 4399270 shares trading hands. The stock had previously closed at GBX 65.

The Renewables Infrastructure Group Stock Performance

The stock has a market cap of £1.53 billion, a price-to-earnings ratio of -11.83 and a beta of 0.35. The company has a 50-day simple moving average of GBX 67.53 and a two-hundred day simple moving average of GBX 71.16.

Insiders Place Their Bets

In other news, insider Tove Feld acquired 22,000 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was bought at an average price of GBX 67 per share, with a total value of £14,740. Also, insider John Whittle acquired 40,000 shares of the stock in a transaction dated Monday, January 5th. The shares were purchased at an average price of GBX 69 per share, for a total transaction of £27,600. Over the last 90 days, insiders have purchased 68,000 shares of company stock worth $4,630,000. 0.03% of the stock is owned by corporate insiders.

The Renewables Infrastructure Group Company Profile

TRIG was one of the first investment companies investing in renewable energy infrastructure projects listed on the London Stock Exchange. TRIG completed its IPO in 2013 raising £300m and is a member of the FTSE250 index. The Company develops, constructs and operates a portfolio of renewable energy infrastructure that creates value for its shareholders and generates secure, clean electricity that benefits both society and the environment. The Company's diversified portfolio includes onshore and offshore wind farms, solar parks and battery storage projects in the UK and mainland Europe. TRIG's strategy is focused on delivering capital growth and attractive, income-based returns supported by strong cash generation and a positive link to inflation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.