The Clearway Energy Inc. (CWEN) shares are trading at higher $24.75.
To add more color to this target, the company’s high over the last year is $24.33 and the low is $16.12. Over the last 52 weeks, CWEN is up 1.73% while the S&P 500 is up 0.64%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, CWEN reported a profit of $52.0 million. Clearway Energy Inc. also saw revenues increase to $258.0 million. In addition, CWEN has free cash flow of $44.0 million as of 03-2020 The company’s EBITDA came in at $182.0 million which compares well with its peers.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CWEN has a short ratio of 4.60 and outstanding shares of 79.33M.
CWEN has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.95 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.18. Clearway Energy Inc. CWEN also noted assets of $9.55 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CWEN has historically followed its peers on positive news.
All told, Clearway Energy Inc. CWEN has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CWEN represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Clearway Energy Inc. CWEN is now commanding a market cap of 1.96B. CWEN is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CWEN stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in CWEN, either long or short, and we have not been compensated for this article.