Pattern Energy Group (NASDAQ:PEGI) has tumbled 0.33% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 1.59% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.87% and the outperformance has advanced to 0.66% for the last 4 weeks period.
Pattern Energy Group (NASDAQ:PEGI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.97 and $20.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.33. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.09, notching a gain of 0.91% for the day. The total traded volume was 3,139,934 . The stock had closed at $20.90 on the previous day.
The company shares have dropped -31.81% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $32.00 and the one year low was seen on Feb 29, 2016. The 50-Day Moving Average price is $20.97 and the 200 Day Moving Average price is recorded at $19.29.
On the companys insider trading activities, Hall Douglas G., director of Pattern Energy Group Inc. had purchased 5,500 shares on December 1, 2015 in a transaction. The price per share was $18.09 and the total amount of the disclosed transaction was $99,495.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Many analysts have stated their opinion on the company shares. Brokerage firm BMO Capital maintains its rating on Pattern Energy Group (NASDAQ:PEGI). As per the latest information, the brokerage house lowers the price target to $23 per share from a prior target of $26. The shares have been rated Outperform. The rating by the firm was issued on March 1, 2016. Currently the company Insiders own 1.15% of Pattern Energy Group shares according to the proxy statements.
Pattern Energy Group Inc. (Pattern Energy) owns and operates power projects. It holds interests in 12 wind power projects located in the United States, Canada and Chile with total capacity of 1,636 megawatts (MW). The projects consist of 11 operating projects and one project under construction. Each of its projects has contracted to sell its output pursuant to a power sale agreement. It sells its electricity and environmental attributes, including renewable energy credits (RECs), to local utilities under long-term, fixed-price power purchase agreements (PPAs). The Companys operating projects are Gulf Wind, Texas; Hatchet Ridge, California; St. Joseph, Manitoba; Spring Valley, Nevada; Santa Isabel, Puerto Rico; Ocotillo, California; South Kent, Ontario; El Arrayan, Chile; Panhandle 1, Texas; Panhandle 2, Texas, and Grand, Ontario.