The stock price of Algonquin Power & Utilities Corp (NYSE: AQN) has surged by 1.70 when compared to previous closing price of 5.87, but the company has seen a 6.42% gain in its stock price over the last five trading sessions. PRNewsWire reported 2023-10-11 that OAKVILLE, ON, Oct. 11, 2023 /PRNewswire/ – Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) (“AQN”) today announced plans to release its third quarter 2023 financial results on Friday, November 10, 2023, before market open. AQN will hold an earnings conference call at 8:30 a.m.
Is It Worth Investing in Algonquin Power & Utilities Corp (NYSE: AQN) Right Now?
The 36-month beta value for AQN is also noteworthy at 0.66. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 8 rating it as “hold,” and 1 rating it as “sell.”
The average price estimated by analysts for AQN is $6.76, which is $0.79 above than the current price. The public float for AQN is 688.49M, and at present, short sellers hold a 4.96% of that float. The average trading volume of AQN on November 20, 2023 was 4.79M shares.
AQN’s Market Performance
The stock of Algonquin Power & Utilities Corp (AQN) has seen a 6.42% increase in the past week, with a 15.92% rise in the past month, and a -16.85% fall in the past quarter. The volatility ratio for the week is 2.77%, and the volatility levels for the past 30 days are at 3.41% for AQN. The simple moving average for the past 20 days is 10.36% for AQN’s stock, with a -20.67% simple moving average for the past 200 days.
Analysts’ Opinion of AQN
Many brokerage firms have already submitted their reports for AQN stocks, with BofA Securities repeating the rating for AQN by listing it as a “Neutral.” The predicted price for AQN in the upcoming period, according to BofA Securities is $8.50 based on the research report published on April 18, 2023 of the current year 2023.
AQN Trading at 0.61% from the 50-Day Moving Average
After a stumble in the market that brought AQN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -34.68% of loss for the given period.
Volatility was left at 3.41%, however, over the last 30 days, the volatility rate increased by 2.77%, as shares surge +18.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.03% lower at present.
During the last 5 trading sessions, AQN rose by +6.42%, which changed the moving average for the period of 200-days by -20.29% in comparison to the 20-day moving average, which settled at $5.46. In addition, Algonquin Power & Utilities Corp saw -8.44% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for AQN
Current profitability levels for the company are sitting at:
- +16.57 for the present operating margin
- +19.54 for the gross margin
The net margin for Algonquin Power & Utilities Corp stands at -7.85. The total capital return value is set at 3.11, while invested capital returns managed to touch -1.75. Equity return is now at value -4.52, with -1.30 for asset returns.
Based on Algonquin Power & Utilities Corp (AQN), the company’s capital structure generated 144.34 points at debt to equity in total, while total debt to capital is 59.07. Total debt to assets is 42.74, with long-term debt to equity ratio resting at 141.21. Finally, the long-term debt to capital ratio is 55.75.
The receivables turnover for the company is 5.74 and the total asset turnover is 0.16. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.71.
In summary, Algonquin Power & Utilities Corp (AQN) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.