Analysts Set Azure Power Global Ltd (AZRE) PT at $25.00

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Shares of Azure Power Global Ltd (NYSE:AZRE) have received an average recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $25.00.

A number of research analysts have recently weighed in on AZRE shares. ValuEngine upgraded Azure Power Global from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Credit Suisse Group raised their price objective on Azure Power Global from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, June 18th. Zacks Investment Research upgraded Azure Power Global from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a research report on Wednesday, June 20th. JMP Securities started coverage on Azure Power Global in a research report on Monday, July 30th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Janney Montgomery Scott assumed coverage on Azure Power Global in a research report on Friday, August 17th. They set a “buy” rating for the company.

Shares of Azure Power Global stock opened at $15.30 on Tuesday. The stock has a market cap of $401.39 million, a PE ratio of -23.54 and a beta of 1.96. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 4.43. Azure Power Global has a twelve month low of $12.53 and a twelve month high of $18.10.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in 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 in the last quarter. Renaissance Technologies LLC grew its position in 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 in the last quarter. Perella Weinberg Partners Capital Management LP purchased a new position in Azure Power Global in the second quarter worth about $1,869,000. Handelsbanken Fonder AB grew its position in 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 in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in 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 in the last quarter. Institutional investors own 42.45% of the company’s stock.

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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