Boralex (TSE:BLX) Reaches New 52-Week Low – Here’s Why

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BLX. BMO Capital Markets decreased their price objective on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. CIBC decreased their price target on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Five equities 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 data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$43.13.

Boralex Trading Down 0.5 %

The firm has a market cap of C$2.62 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.01 and a beta of 0.46. The business’s 50-day moving average is C$28.64 and its two-hundred day moving average is C$32.09. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24.

About Boralex

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.