Price Action Don’t Lie: What Will Happen to Atlantic Power Corp Next? The Stock Just Reaches 52-Week High

Price Action Don't Lie: What Will Happen to Atlantic Power Corp Next? The Stock Just Reaches 52 Week High

The stock of Atlantic Power Corp (NYSE:AT) hit a new 52-week high and has $6.63 target or 160.00% above today’s $2.55 share price. The 8 months bullish chart indicates low risk for the $300.67M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $6.63 price target is reached, the company will be worth $481.07 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 92,552 shares traded hands. Atlantic Power Corp (NYSE:AT) has risen 1.56% since April 19, 2016 and is uptrending. It has underperformed by 2.30% the S&P500.

Atlantic Power Corp (NYSE:AT) Ratings Coverage

Out of 6 analysts covering AT&T (NYSE:AT), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. $38 is the highest target while $2.25 is the lowest. The $28.06 average target is 1000.39% above today’s ($2.55) stock price. AT&T has been the topic of 7 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by FBR Capital on Friday, July 24 with “Mkt Perform”. The firm earned “Neutral” rating on Monday, July 27 by Goldman Sachs. The rating was upgraded by RBC Capital Markets to “Sector Perform” on Wednesday, March 9. The stock of Atlantic Power Corp (NYSE:AT) earned “Sector Perform” rating by National Bank Canada on Thursday, December 24. As per Wednesday, September 2, the company rating was upgraded by Citigroup. Canaccord Genuity maintained Atlantic Power Corp (NYSE:AT) rating on Monday, July 27. Canaccord Genuity has “Hold” rating and $35 price target.

According to Zacks Investment Research, “Atlantic Power Corporation is an independent electric power producer that owns interests in a diversified portfolio of independent, non-utility power generation projects and one transmission line situated in major U.S. markets.”

Insitutional Activity: The institutional sentiment increased to 1.04 in 2016 Q2. Its up 0.19, from 0.85 in 2016Q1. The ratio is positive, as 10 funds sold all Atlantic Power Corp shares owned while 38 reduced positions. 10 funds bought stakes while 31 increased positions. They now own 52.40 million shares or 0.44% more from 52.17 million shares in 2016Q1.
Alliancebernstein L P accumulated 0% or 426,280 shares. Invsts Cap Advisory Services holds 0.01% or 16,675 shares in its portfolio. Moreover, Blackrock Fund Advsrs has 0% invested in Atlantic Power Corp (NYSE:AT) for 3.12M shares. Verition Fund Ltd Liability Corp, a Connecticut-based fund reported 250,004 shares. Citadel Advsr Lc owns 89,576 shares or 0% of their US portfolio. The Ohio-based Strs Ohio has invested 0% in Atlantic Power Corp (NYSE:AT). Numeric Limited Liability Company has 0% invested in the company for 123,500 shares. Tower Limited Liability Corp (Trc), a New York-based fund reported 7,384 shares. Goldman Sachs Gp Inc last reported 184,349 shares in the company. Parametric Portfolio Lc owns 130,010 shares or 0% of their US portfolio. Clarivest Asset Mgmt Ltd Liability Corporation holds 0.01% of its portfolio in Atlantic Power Corp (NYSE:AT) for 126,000 shares. Amalgamated Retail Bank last reported 13,313 shares in the company. Guggenheim Ltd Liability accumulated 81,076 shares or 0% of the stock. New York State Common Retirement Fund last reported 111,400 shares in the company. Envestnet Asset Mgmt owns 28,871 shares or 0% of their US portfolio.

More notable recent Atlantic Power Corp (NYSE:AT) news were published by: Reuters.com which released: “BRIEF-Atlantic Power Corp reports qtrly loss per share of $0.69” on November 07, 2016, also Prnewswire.com with their article: “Atlantic Power Corporation Announces Substantial Issuer Bid” published on June 17, 2016, Fool.com published: “Why Shares of Atlantic Power Corporation Popped 38% in March” on April 07, 2016. More interesting news about Atlantic Power Corp (NYSE:AT) were released by: Prnewswire.com and their article: “Atlantic Power Corporation Announces Launch of Syndication of New Senior …” published on March 21, 2016 as well as Prnewswire.com‘s news article titled: “Atlantic Power Corporation Announces Changes to Capital Allocation Strategy” with publication date: February 10, 2016.

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