Azure Power Global Ltd (NYSE:AZRE) has been given an average rating of “Hold” by the six brokerages that are presently 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 assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

AZRE has been the subject of several research reports. Zacks Investment Research cut shares of Azure Power Global from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Credit Suisse Group upped their price objective on shares of Azure Power Global from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, June 18th. JMP Securities initiated coverage on shares of Azure Power Global in a research note on Monday, July 30th. They set an “outperform” rating and a $26.00 price objective for the company. ValuEngine raised shares of Azure Power Global from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Janney Montgomery Scott initiated coverage on shares of Azure Power Global in a research note on Friday, August 17th. They set a “buy” rating for the company.

A number of hedge funds and other institutional investors have recently made changes to their positions in AZRE. Sei Investments Co. grew its stake in Azure Power Global by 3,077.1% during the 1st quarter. Sei Investments Co. now owns 30,627 shares of the energy company’s stock valued at $406,000 after acquiring an additional 29,663 shares in the last quarter. Renaissance Technologies LLC grew its stake in Azure Power Global by 22.2% during the 2nd quarter. Renaissance Technologies LLC now owns 45,200 shares of the energy company’s stock valued at $654,000 after acquiring an additional 8,200 shares in the last quarter. Perella Weinberg Partners Capital Management LP purchased a new stake in Azure Power Global during the 2nd quarter valued at about $1,869,000. Handelsbanken Fonder AB grew its stake in Azure Power Global by 125.0% during the 1st quarter. Handelsbanken Fonder AB now owns 534,513 shares of the energy company’s stock valued at $7,082,000 after acquiring an additional 296,972 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Azure Power Global by 55.1% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,443,567 shares of the energy company’s stock valued at $122,094,000 after acquiring an additional 3,000,000 shares in the last quarter. 42.45% of the stock is owned by institutional investors.

Shares of NYSE AZRE opened at $14.63 on Tuesday. Azure Power Global has a 12-month low of $12.53 and a 12-month high of $18.10. The stock has a market cap of $385.53 million, a P/E ratio of -22.51 and a beta of 1.96. The company has a debt-to-equity ratio of 4.43, a current ratio of 3.81 and a quick ratio of 3.81.

Azure Power Global (NYSE:AZRE) last announced its quarterly earnings data on Friday, June 15th. The energy company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.08. Azure Power Global had a negative net margin of 11.97% and a negative return on equity of 9.47%. The company had revenue of $34.70 million during the quarter, compared to analysts’ expectations of $33.80 million. equities analysts forecast that Azure Power Global will post 0.03 earnings per share for the current year.

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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