Azure Power Global (NYSE:AZRE)‘s stock had its “outperform” rating reaffirmed by equities researchers at JMP Securities in a research note issued to investors on Thursday, The Fly reports. They currently have a $30.00 price target on the energy company’s stock, up from their prior price target of $26.00. JMP Securities’ target price points to a potential upside of 150.00% from the stock’s previous close.

AZRE has been the subject of a number of other research reports. Janney Montgomery Scott assumed coverage on Azure Power Global in a report on Friday, August 17th. They issued a “buy” rating for the company. ValuEngine upgraded Azure Power Global from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Zacks Investment Research downgraded Azure Power Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, Credit Suisse Group downgraded Azure Power Global to a “buy” rating and decreased their price objective for the stock from $24.00 to $22.00 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.67.

AZRE opened at $12.00 on Thursday. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $420.63 million, a price-to-earnings ratio of -18.46 and a beta of 1.89. Azure Power Global has a 12-month low of $11.69 and a 12-month high of $18.10.

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

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.

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