Pattern Energy Group (PEGI) Shares are Down -5.58%

Pattern Energy Group (PEGI) : During the past 4 weeks, traders have been relatively bearish on Pattern Energy Group (PEGI), hence the stock is down -6.83% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -5.74% relative to the S&P 500. The 4-week change in the price of the stock is -7.33% and the stock has fallen -5.58% in the past 1 week.

The stock has recorded a 20-day Moving Average of 3.57% and the 50-Day Moving Average is 4.07%.The 200 Day SMA reached 11.51%

Pattern

Pattern Energy Group (NASDAQ:PEGI): The stock opened in the green at $22.83 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $22.83 and a low of $22.27 for the day. The stock did not find buyers even at the lows and closed at $22.49 recording a loss of -0.88%. 741,474 shares exchanged hands during the trading day. The stock had closed at $22.49 in the previous days trading.

Pattern Energy Group (PEGI) : The highest level Pattern Energy Group (PEGI) is projected to reach is $36 for the short term and the lowest estimate is at $25. The consolidated price target from 9 rating analysts who initiate coverage on the stock is $28.83 and the possibility the share price can swing is $4.23.

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.

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