TransAlta Renewables Inc. (OTCMKTS:TRSWF) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,652,400 shares, a drop of 19.8% from the August 15th total of 2,059,100 shares. Based on an average daily volume of 9,200 shares, the days-to-cover ratio is currently 179.6 days.
Shares of OTCMKTS TRSWF opened at $15.34 on Tuesday. The stock’s fifty day simple moving average is $16.47 and its 200 day simple moving average is $16.26. TransAlta Renewables has a 52-week low of $11.69 and a 52-week high of $19.20.
TRSWF has been the topic of several research analyst reports. CIBC lifted their price target on TransAlta Renewables from C$20.00 to C$21.00 and gave the company a “neutral” rating in a research report on Wednesday, July 21st. TD Securities lifted their price target on TransAlta Renewables from C$20.00 to C$21.00 and gave the company a “hold” rating in a research report on Wednesday, August 11th. Finally, Credit Suisse Group lowered their price target on TransAlta Renewables from C$22.00 to C$21.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 25th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.17.
TransAlta Renewables, Inc engages in the acquisition of renewable power generation facilities in operation or under construction. It operates through the following segments: Canadian Wind, Canadian Hydro and Canadian Gas. The Canadian Wind segment includes the result of the Le Nordais facility. The Canadian Hydro segment comprises of the outcome of the Ragged Chute facility.
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