Pattern Energy Group (PEGI) has been under a strong bear grip, hence the stock is down -0.85% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.41% in the past 1 week. The stock has risen by 2.93% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.98% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 1.91% and the 50-Day Moving Average is 2.56%.The 200 Day SMA reached 21.88%. Pattern Energy Group Inc. is up 11.2% in the last 3-month period. Year-to-Date the stock performance stands at 20.66%.
Pattern Energy Group (NASDAQ:PEGI): After opening at $23.95, the stock dipped to an intraday low of $23.94 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $24.6 and the buying power remained strong till the end. The stock closed at $24.27 for the day, a gain of 1.68% for the day session. The total traded volume was 797,591. The stocks close on the previous trading day was $23.87.
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.