AQN Stock Forecast: All the More Reason to Consider Algonquin Power & Utilities Corp (AQN) Now

Algonquin Power & Utilities Corp (NYSE: AQN) is -19.94% lower on its value in year-to-date trading and has touched a low of $4.90 and a high of $6.79 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AQN stock was last observed hovering at around $5.00 in the last trading session, with the day’s gains setting it 0.06%.

Currently trading at $5.06, the stock is -5.19% and -6.04% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.83 million and changing 1.20% at the moment leaves the stock -14.84% off its SMA200. AQN registered -12.15% loss for a year compared to 6-month loss of -13.06%. The firm has a 50-day simple moving average (SMA 50) of $5.385 and a 200-day simple moving average (SMA200) of $5.942.

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The stock witnessed a -8.00% gain in the last 1 month and extending the period to 3 months gives it a -19.17%, and is -1.75% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.25% over the week and 2.32% over the month.

Algonquin Power & Utilities Corp (AQN) has around 3500 employees, a market worth around $4.00B and $2.62B in sales. Current P/E ratio is 33.60 and Fwd P/E is 14.33. Profit margin for the company is 4.36%. Distance from 52-week low is 3.26% and -25.48% from its 52-week high. The company has generated returns on investments over the last 12 months (0.80%).

with sales reaching $606.42M over the same period.The EPS is expected to shrink by -15.66% this year, but quarterly earnings will post 0.80% year-over-year. Quarterly sales are estimated to shrink -2.90% in year-over-year returns.

Algonquin Power & Utilities Corp (AQN) Top Institutional Holders

385.0 institutions hold shares in Algonquin Power & Utilities Corp (AQN), with institutional investors hold 61.78% of the company’s shares. The shares outstanding are 789.99M, and float is at 766.24M with Short Float at 1.82%. Institutions hold 61.75% of the Float.

The top institutional shareholder in the company is STARBOARD VALUE LP with over 62.14 million shares valued at $364.15 million. The investor’s holdings represent 9.0116% of the AQN Shares outstanding. As of 2024-06-30, the second largest holder is ROYAL BANK OF CANADA with 28.91 million shares valued at $169.43 million to account for 4.1929 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 27.04 million shares representing 3.922% and valued at over $158.48 million, while GOLDMAN SACHS GROUP INC holds 3.0195 of the shares totaling 20.82 million with a market value of $122.01 million.