Avista Corp (NYSE:AVA) shares saw an uptick in trading volume on Thursday . 1,288,865 shares changed hands during trading, an increase of 159% from the previous session’s volume of 498,229 shares.The stock last traded at $52.22 and had previously closed at $51.42.
The company has a current ratio of 0.90, a quick ratio of 0.70 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 26.78 and a beta of 0.19.
Avista (NYSE:AVA) last released its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. Avista had a net margin of 7.90% and a return on equity of 7.39%. The firm had revenue of $319.30 million during the quarter. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts forecast that Avista Corp will post 2.05 earnings per share for the current year.
In related news, insider Jason R. Thackston sold 2,000 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $50.55, for a total transaction of $101,100.00. Following the completion of the transaction, the insider now owns 27,244 shares in the company, valued at approximately $1,377,184.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Heidi B. Stanley sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $51.40, for a total transaction of $154,200.00. Following the transaction, the director now owns 13,839 shares of the company’s stock, valued at approximately $711,324.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,436 shares of company stock valued at $431,456. Insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AVA. FNY Investment Advisers LLC acquired a new stake in Avista in the 3rd quarter valued at about $185,000. Everence Capital Management Inc. raised its holdings in Avista by 21.2% in the 2nd quarter. Everence Capital Management Inc. now owns 6,110 shares of the utilities provider’s stock valued at $322,000 after acquiring an additional 1,070 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Avista by 91.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,422 shares of the utilities provider’s stock valued at $338,000 after acquiring an additional 3,074 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Avista in the 1st quarter valued at about $338,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Avista in the 1st quarter valued at about $355,000. Hedge funds and other institutional investors own 76.38% of the company’s stock.
About Avista (NYSE:AVA)
Avista Corporation operates as an electric and natural gas utility company. It operates through two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.
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