Credit Suisse Group set a $22.00 price objective on Azure Power Global (NYSE:AZRE) in a report issued on Thursday morning. The firm currently has a buy rating on the energy company’s stock.
Several other analysts have also recently commented on the stock. Barclays assumed coverage on shares of Azure Power Global in a research note on Monday, January 7th. They issued an equal weight rating and a $12.00 price target on the stock. JMP Securities boosted their price target on shares of Azure Power Global from $30.00 to $31.00 and gave the stock a market outperform rating in a research note on Friday, November 16th. Roth Capital reiterated a buy rating on shares of Azure Power Global in a research note on Thursday, November 15th. Finally, ValuEngine upgraded shares of Azure Power Global from a sell rating to a hold rating in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $19.50.
Get Azure Power Global alerts:AZRE stock traded down $0.04 during mid-day trading on Thursday, hitting $10.95. The company had a trading volume of 1,910 shares, compared to its average volume of 31,157. The stock has a market cap of $448.61 million, a P/E ratio of -16.85 and a beta of 1.94. Azure Power Global has a 12-month low of $8.25 and a 12-month high of $16.50. The company has a quick ratio of 1.45, a current ratio of 2.67 and a debt-to-equity ratio of 2.43.
Azure Power Global (NYSE:AZRE) last announced its quarterly earnings results on Tuesday, February 12th. The energy company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.17. The business had revenue of $34.94 million for the quarter, compared to analysts’ expectations of $30.70 million. Azure Power Global had a net margin of 0.24% and a return on equity of 0.81%. On average, analysts anticipate that Azure Power Global will post 0.02 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Azure Power Global in the 4th quarter worth about $30,000. Renaissance Technologies LLC increased its holdings in shares of Azure Power Global by 22.2% in the 2nd quarter. Renaissance Technologies LLC now owns 45,200 shares of the energy company’s stock worth $654,000 after buying an additional 8,200 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new stake in shares of Azure Power Global in the 4th quarter worth about $718,000. Perella Weinberg Partners Capital Management LP increased its holdings in shares of Azure Power Global by 16.6% in the 3rd quarter. Perella Weinberg Partners Capital Management LP now owns 150,749 shares of the energy company’s stock worth $2,439,000 after buying an additional 21,465 shares during the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Azure Power Global in the 3rd quarter worth about $4,532,000. Hedge funds and other institutional investors own 27.94% of the company’s stock.
About Azure Power Global
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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