Innergex Renewable Energy Inc. (TSE:INE - Get Free Report)'s stock price shot up 54.8% during mid-day trading on Tuesday . The stock traded as high as C$13.53 and last traded at C$13.48. 10,662,261 shares changed hands during mid-day trading, an increase of 1,052% from the average session volume of 925,621 shares. The stock had previously closed at C$8.71.
INE has been the topic of several recent analyst reports. CIBC decreased their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Cormark lowered their price objective on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Raymond James cut shares of Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and upped their target price for the company from C$11.50 to C$13.75 in a research report on Wednesday. TD Securities upped their price objective on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a "hold" rating in a research report on Friday, February 21st. Finally, National Bankshares cut Innergex Renewable Energy from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from C$16.00 to C$13.75 in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$11.59.
Read Our Latest Analysis on INE
The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. The company has a market capitalization of C$2.76 billion, a price-to-earnings ratio of -21.60, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The firm has a fifty day moving average price of C$7.90 and a 200-day moving average price of C$8.82.
For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada's best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.
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