Taking this into account, Janney initiated its Algonquin Power & Utilities Corp [AQN] rating to a Neutral in a research note published recently. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in mid August from “an Overweight” to “an Equal weight”. Raymond James also remained covering AQN and has decreased its forecast on August 12, 2024 with a “Mkt perform” recommendation from previously “an Outperform” rating. Desjardins revised its rating on March 11, 2024. It rated AQN as “a Hold” which previously was an “a Sell”.
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Price Performance Review of AQN
On Tuesday, Algonquin Power & Utilities Corp [NYSE:AQN] saw its stock unchanged to $5.15. Over the last five days, the stock has lost -6.53%. Algonquin Power & Utilities Corp shares have fallen nearly -18.51% since the year began. Nevertheless, the stocks have fallen -10.75% over the past one year. While a 52-week high of $6.79 was reached on 05/07/24, a 52-week low of $4.90 was recorded on 08/14/24. SMA at 50 days reached $5.48, while 200 days put it at $5.97.
Levels Of Support And Resistance For AQN Stock
The 24-hour chart illustrates a support level at 5.10, which if violated will result in even more drops to 5.06. On the upside, there is a resistance level at 5.19. A further resistance level may holdings at 5.23. The Relative Strength Index (RSI) on the 14-day chart is 36.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.72%. Stochastics %K at 7.05% indicates the stock is a buying.
How much short interest is there in Algonquin Power & Utilities Corp?
A steep rise in short interest was recorded in Algonquin Power & Utilities Corp stocks on 2024-09-13, dropping by -2.57 million shares to a total of 13.91 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 16.49 million shares. There was a decline of -18.49%, which implies that there is a negative sentiment for the stock.
