Sky Solar Holdings, Ltd. (SKYS) Stock Rating Upgraded by Zacks Investment Research
Sky Solar Holdings, Ltd. (NASDAQ:SKYS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $2.25 target price on the solar energy provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.38% from the stock’s previous close.
According to Zacks, “Sky Solar Holdings, Ltd. is a global independent power producer. It develops, owns and operates solar parks. The Company is focused on the downstream solar market and has developed projects in Asia, South America, Europe, North America and Africa. It also sells solar energy systems, including pipelines to utility companies, independent power developers and producers, commercial and industrial companies, and other solar energy system owners. The Company is involved in the engineering design; construction contracting and management; and procurement of PV modules, balance-of-system components, and other components, as well as building and transferring solar parks. Sky Solar Holdings, Ltd. is based in Central, Hong Kong. “
A number of other research analysts have also commented on the company. Roth Capital raised Sky Solar Holdings from a “neutral” rating to a “buy” rating and increased their price objective for the company from $1.30 to $5.00 in a report on Wednesday, October 11th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $5.00 target price on shares of Sky Solar Holdings in a report on Friday, September 29th. Finally, BidaskClub raised Sky Solar Holdings from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th.
Shares of Sky Solar Holdings (SKYS) traded down 1.02% during trading on Wednesday, hitting $1.95. The company’s stock had a trading volume of 19,298 shares. Sky Solar Holdings has a 1-year low of $1.00 and a 1-year high of $3.62. The company has a market capitalization of $103.65 million, a P/E ratio of 9.42 and a beta of 1.90. The firm’s 50 day moving average is $1.60 and its 200-day moving average is $1.65.
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An institutional investor recently raised its position in Sky Solar Holdings stock. Quentec Asset Management LLC lifted its position in shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) by 17.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 700,963 shares of the solar energy provider’s stock after purchasing an additional 103,433 shares during the quarter. Sky Solar Holdings makes up about 0.1% of Quentec Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Quentec Asset Management LLC owned 1.34% of Sky Solar Holdings worth $1,051,000 at the end of the most recent reporting period. 0.43% of the stock is owned by institutional investors.
About Sky Solar Holdings
Sky Solar Holdings, Ltd. is an investment holding company. The Company is an independent power producer (IPP) engaged in developing, owning and operating solar parks. The Company focuses on the downstream solar market and develops projects primarily in Asia, South America, Europe and North America. Its subsidiaries are engaged in activities, such as selling electricity generated from solar parks owned by the Company as IPP; pipeline (including obtaining permits required for solar power projects and sourcing of solar modules), and providing engineering, procurement and construction (EPC) services ; providing operating and maintenance (O&M) services for solar parks; sales of solar modules, and building and transferring of solar parks (BT).
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