Boralex (TSE:BLX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Boralex Inc. (TSE:BLX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$29.22 and traded as high as C$31.78. Boralex shares last traded at C$31.51, with a volume of 238,633 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BLX. Raymond James Financial raised Boralex to a “moderate buy” rating in a research report on Thursday, May 15th. TD Securities lifted their target price on shares of Boralex from C$35.00 to C$38.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. National Bankshares upped their target price on shares of Boralex from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Thursday, June 19th. National Bank Financial raised shares of Boralex to a “strong-buy” rating in a research report on Sunday, June 8th. Finally, Desjardins set a C$45.00 price objective on shares of Boralex and gave the stock a “top pick” rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$39.22.

Boralex Trading Up 1.7%

The stock has a 50-day simple moving average of C$31.59 and a two-hundred day simple moving average of C$29.22. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The firm has a market cap of C$3.28 billion, a PE ratio of 46.20, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

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.