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Pattern Energy Group (NASDAQ:PEGI) was the recipient of a large increase in short interest in June. As of June 13th, there was short interest totalling 1,614,321 shares, an increase of 35.6% from the May 30th total of 1,190,933 shares, Stock Ratings reports. Based on an average trading volume of 320,243 shares, the days-to-cover ratio is currently 5.0 days. Approximately 4.1% of the company’s stock are short sold.

Several analysts have recently commented on the stock. Analysts at CIBC raised their price target on shares of Pattern Energy Group from $31.00 to $34.00 in a research note on Monday. Separately, analysts at KeyCorp initiated coverage on shares of Pattern Energy Group in a research note on Monday, June 23rd. They set a “buy” rating and a $34.50 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $32.00.

Pattern Energy Group (NASDAQ:PEGI) opened at 33.96 on Wednesday. Pattern Energy Group has a 52 week low of $22.26 and a 52 week high of $34.15. The stock’s 50-day moving average is $30.68 and its 200-day moving average is $28.68. The company has a market cap of $1.212 billion and a price-to-earnings ratio of 494.18.

Pattern Energy Group (NASDAQ:PEGI) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.20) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.96 by $1.16. The company had revenue of $49.50 billion for the quarter, compared to the consensus estimate of $57.18 billion. On average, analysts predict that Pattern Energy Group will post $0.46 earnings per share for the current fiscal year.

Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.

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