Algonquin Power & Utilities Corp [AQN] Stock trading around $5.82 per share: What’s Next?

Algonquin Power & Utilities Corp [NYSE: AQN] loss -1.85% or -0.11 points to close at $5.82 with a heavy trading volume of 5843099 shares.

The daily chart for AQN points out that the company has recorded 1.04% gains over the past six months.

If we look at the average trading volume of 4.90M shares, AQN reached to a volume of 5843099 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Algonquin Power & Utilities Corp [AQN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AQN shares is $6.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AQN stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Desjardins have made an estimate for Algonquin Power & Utilities Corp shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 11, 2024. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $7 to $7.50. The new note on the price target was released on January 08, 2024, representing the official price target for Algonquin Power & Utilities Corp stock. Previously, the target price had yet another drop from $9 to $8.50, while BofA Securities kept a Neutral rating on AQN stock. On April 17, 2023, analysts decreased their price target for AQN shares from 17 to 10.

The Average True Range (ATR) for Algonquin Power & Utilities Corp is set at 0.19, with the Price to Sales ratio for AQN stock in the period of the last 12 months amounting to 1.54. The Price to Book ratio for the last quarter was 0.85, with the Price to Cash per share for the same quarter was set at 0.08.

Trading performance analysis for AQN stock

Algonquin Power & Utilities Corp [AQN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.32. With this latest performance, AQN shares dropped by -4.28% in over the last four-week period, additionally plugging by 1.04% over the last 6 months – not to mention a drop of -34.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AQN stock in for the last two-week period is set at 38.97, with the RSI for the last a single of trading hit 32.33, and the three-weeks RSI is set at 42.66 for Algonquin Power & Utilities Corp [AQN]. The present Moving Average for the last 50 days of trading for this stock 6.01, while it was recorded at 6.06 for the last single week of trading, and 6.48 for the last 200 days.

Algonquin Power & Utilities Corp [AQN]: A deeper dive into fundamental analysis

Algonquin Power & Utilities Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.63.

Algonquin Power & Utilities Corp [AQN]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AQN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Algonquin Power & Utilities Corp go to 4.30%.

An analysis of Institutional ownership at Algonquin Power & Utilities Corp [AQN]

The top three institutional holders of AQN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in AQN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in AQN stock with ownership which is approximately 5.8386%.