Azure Power Global (NYSE:AZRE) Rating Increased to Hold at StockNews.com

Azure Power Global (NYSE:AZRE – Get Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Separately, Royal Bank of Canada cut their price objective on Azure Power Global from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.88.

Shares of NYSE AZRE opened at $13.83 on Friday. The stock has a market cap of $668.45 million, a PE ratio of -16.08 and a beta of 0.80. The business has a fifty day moving average of $13.87 and a two-hundred day moving average of $15.82. Azure Power Global has a 52-week low of $10.61 and a 52-week high of $28.14. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.61 and a current ratio of 0.61.

Institutional investors have recently added to or reduced their stakes in the stock. Kepos Capital LP raised its holdings in shares of Azure Power Global by 62.9% in the fourth quarter. Kepos Capital LP now owns 16,439 shares of the energy company’s stock valued at $290,000 after buying an additional 6,350 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Azure Power Global by 30.1% in the third quarter. Millennium Management LLC now owns 195,968 shares of the energy company’s stock valued at $4,311,000 after buying an additional 45,374 shares during the last quarter. Jefferies Group LLC raised its holdings in shares of Azure Power Global by 135.6% in the third quarter. Jefferies Group LLC now owns 253,834 shares of the energy company’s stock valued at $5,584,000 after buying an additional 146,074 shares during the last quarter. Shay Capital LLC raised its holdings in shares of Azure Power Global by 10.5% in the fourth quarter. Shay Capital LLC now owns 10,533 shares of the energy company’s stock valued at $191,000 after buying an additional 1,000 shares during the last quarter. Finally, Vancity Investment Management Ltd increased its position in Azure Power Global by 8.9% in the fourth quarter. Vancity Investment Management Ltd now owns 343,253 shares of the energy company’s stock worth $6,230,000 after purchasing an additional 27,931 shares during the period.

About Azure Power Global (Get Rating)

Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of renewable energy projects 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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