Transalta Corp (NYSE:TAC) price on Thursday, February 06, fall -0.28% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $10.87.
A look at the stock’s price movement, the close in the last trading session was $10.90, moving within a range at $10.8 and $11.06. The beta value (5-Year monthly) was 0.917 while the PE ratio in trailing twelve months stood at 28.60. Turning to its 52-week performance, $14.64 and $5.94 were the 52-week high and 52-week low respectively. Overall, TAC moved -22.69% over the past month.
Transalta Corp’s market cap currently stands at around $3.24 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 0.18, with its dividend yield at 1.61%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.82B, representing a -15.96% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that TAC is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend TAC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
TAC’s current price about -12.35% and -15.20% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 33.97, while 7-day volatility ratio is 3.67% and 5.19% in the 30-day chart. Further, Transalta Corp (TAC) has a beta value of 0.87, and an average true range (ATR) of 0.59. Analysts have given the company’s stock an average 52-week price target of $16, forecast between a low of $16 and high of $16. Looking at the price targets, the low is -47.19% off current price level while to achieve the yearly target high, price needs to move -47.19%. Nonetheless, investors will most likely welcome a -47.19% jump to $16 which is the analysts’ median price.
If we refocus on Transalta Corp (NYSE:TAC), historical trading data shows that trading volumes averaged 2.14 over the past 10 days and 1.45 million over the past 3 months. The company’s latest data on shares outstanding shows there are 298.50 million shares.
The 0.74% of Transalta Corp’s shares are in the hands of company insiders while institutional holders own 58.45% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 7.36 million on 2025-01-15, giving us a short ratio of 5.03. The data shows that as of 2025-01-15 short interest in Transalta Corp (TAC) stood at 246.99999999999997 of shares outstanding, with shares short rising to 7.21 million registered in 2024-12-13. Current price change has pushed the stock -23.18% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TAC stock continues to rise going into the next quarter.
