Azure Power Global Ltd. (NYSE:AZRE) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price objective of $22.50 for the company and are anticipating that the company will post ($0.15) EPS for the current quarter, according to Zacks. Zacks has also given Azure Power Global an industry rank of 118 out of 265 based on the ratings given to its competitors.
Several analysts have commented on the stock. Zacks Investment Research cut shares of Azure Power Global from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. BidaskClub cut shares of Azure Power Global from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Finally, Roth Capital set a $22.00 price objective on shares of Azure Power Global and gave the company a “buy” rating in a research note on Sunday, August 20th.
Large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Azure Power Global by 1.8% during the 1st quarter. Bank of America Corp DE now owns 10,529 shares of the energy company’s stock valued at $197,000 after purchasing an additional 190 shares in the last quarter. CAPROCK Group Inc. purchased a new position in shares of Azure Power Global during the 2nd quarter valued at approximately $220,000. Van ECK Associates Corp increased its holdings in shares of Azure Power Global by 21.9% during the 2nd quarter. Van ECK Associates Corp now owns 43,754 shares of the energy company’s stock valued at $714,000 after purchasing an additional 7,852 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of Azure Power Global by 10.0% during the 2nd quarter. Essex Investment Management Co. LLC now owns 212,982 shares of the energy company’s stock valued at $3,474,000 after purchasing an additional 19,326 shares in the last quarter. Finally, Cohen & Steers Inc. increased its holdings in shares of Azure Power Global by 31.4% during the 3rd quarter. Cohen & Steers Inc. now owns 455,571 shares of the energy company’s stock valued at $7,244,000 after purchasing an additional 108,906 shares in the last quarter. 42.34% of the stock is owned by hedge funds and other institutional investors.
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Shares of Azure Power Global (NYSE AZRE) traded down $0.13 during midday trading on Thursday, reaching $14.70. 30,636 shares of the company’s stock traded hands, compared to its average volume of 13,860. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 3.77. Azure Power Global has a twelve month low of $14.20 and a twelve month high of $22.00.
Azure Power Global Company Profile
Azure Power Global Limited is an India-based power producer. The Company sells solar power in India on long term fixed price contracts to its customers. The Company is also developing micro-grid applications for the highly fragmented and underserved electricity market in India. The Company operates approximately 20 utility scale projects and several commercial rooftop projects with a combined rated capacity of approximately 240 megawatts.
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