Essex Investment Management Co. LLC decreased its holdings in shares of Azure Power Global Ltd (NYSE:AZRE) by 78.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 43,335 shares of the energy company’s stock after selling 156,906 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Azure Power Global were worth $615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Cohen & Steers Inc. raised its holdings in Azure Power Global by 31.4% during the 3rd quarter. Cohen & Steers Inc. now owns 455,571 shares of the energy company’s stock valued at $7,244,000 after acquiring an additional 108,906 shares during the period. 42.83% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Azure Power Global from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Zacks Investment Research raised shares of Azure Power Global from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a report on Monday, January 8th.

Azure Power Global Ltd (NYSE AZRE) opened at $16.52 on Friday. Azure Power Global Ltd has a 1-year low of $12.53 and a 1-year high of $22.00. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 3.77.

Azure Power Global (NYSE:AZRE) last released its quarterly earnings results on Thursday, November 9th. The energy company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.31. Azure Power Global had a negative net margin of 29.67% and a negative return on equity of 12.48%. research analysts forecast that Azure Power Global Ltd will post -0.63 EPS for the current year.

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Azure Power Global Company Profile

Azure Power Global Limited is an India-based power producer. The Company sells solar power in India on long term fixed price contracts to its customers. The Company is also developing micro-grid applications for the highly fragmented and underserved electricity market in India. The Company operates approximately 20 utility scale projects and several commercial rooftop projects with a combined rated capacity of approximately 240 megawatts.

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Institutional Ownership by Quarter for Azure Power Global (NYSE:AZRE)

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