Boralex (TSE:BLX) Hits New 52-Week Low – Time to Sell?

Boralex Inc. (TSE:BLX) shares reached a new 52-week low on Tuesday . The company traded as low as C$24.87 and last traded at C$25.50, with a volume of 417500 shares. The stock had previously closed at C$25.63.

Analyst Ratings Changes

Several brokerages have issued reports on BLX. BMO Capital Markets lowered their price target on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. CIBC dropped their price target on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$43.13.

Boralex Stock Down 0.3 %

The stock has a market capitalization of C$2.54 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The firm’s fifty day moving average is C$28.43 and its 200-day moving average is C$31.98.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.