Pattern Energy Group (PEGI) : Traders are bullish on Pattern Energy Group (PEGI) as it has outperformed the S&P 500 by a wide margin of 0.65% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.15%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.57% in the last 1 week, and is up 3.16% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
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 $24.70 and $23.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.51, notching a gain of 1.91% for the day. The total traded volume was 804,348 . The stock had closed at $24.05 on the previous day.
The stock has recorded a 20-day Moving Average of 2.06% and the 50-Day Moving Average is 8.4%. Pattern Energy Group Inc. is up 22.98% in the last 3-month period. Year-to-Date the stock performance stands at 21.85%.
Pattern Energy Group (PEGI) : 9 Wall Street analysts covering Pattern Energy Group (PEGI) believe that the average level the stock could reach for the short term is $26.89. The maximum price target given is $35 and the minimum target for short term is around $25, hence the standard deviation is calculated at $3.1.
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.