Azure Power Global Ltd (NYSE:AZRE) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.67.

A number of analysts have recently weighed in on AZRE shares. Janney Montgomery Scott started coverage on shares of Azure Power Global in a research report on Friday, August 17th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Azure Power Global from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 5th. JMP Securities started coverage on shares of Azure Power Global in a research report on Monday, July 30th. They set an “outperform” rating and a $26.00 price target for the company. Credit Suisse Group downgraded shares of Azure Power Global to a “buy” rating and decreased their price target for the stock from $24.00 to $22.00 in a research report on Tuesday. Finally, ValuEngine downgraded shares of Azure Power Global from a “hold” rating to a “sell” rating in a research report on Monday, October 8th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in shares of Azure Power Global by 3,077.1% during the first quarter. Sei Investments Co. now owns 30,627 shares of the energy company’s stock valued at $406,000 after acquiring an additional 29,663 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Azure Power Global by 22.2% during the second quarter. Renaissance Technologies LLC now owns 45,200 shares of the energy company’s stock valued at $654,000 after acquiring an additional 8,200 shares during the period. Perella Weinberg Partners Capital Management LP acquired a new position in shares of Azure Power Global during the second quarter valued at $1,869,000. Handelsbanken Fonder AB boosted its holdings in shares of Azure Power Global by 125.0% during the first quarter. Handelsbanken Fonder AB now owns 534,513 shares of the energy company’s stock valued at $7,082,000 after acquiring an additional 296,972 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Azure Power Global by 55.1% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,443,567 shares of the energy company’s stock valued at $122,094,000 after acquiring an additional 3,000,000 shares during the period. 42.45% of the stock is owned by institutional investors.

AZRE opened at $12.00 on Friday. Azure Power Global has a 52-week low of $11.69 and a 52-week high of $18.10. The company has a debt-to-equity ratio of 4.43, a quick ratio of 3.81 and a current ratio of 3.81. The company has a market cap of $420.63 million, a PE ratio of -18.46 and a beta of 1.89.

Azure Power Global Company Profile

Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers.

Further Reading: Return on Investment (ROI) Defined, Explained

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