Azure Power Global Ltd. (NYSE:AZRE) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Several other research firms have also recently issued reports on AZRE. Zacks Investment Research upgraded shares of Azure Power Global from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Roth Capital set a $22.00 target price on shares of Azure Power Global and gave the stock a “buy” rating in a research note on Sunday, August 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.00.

Azure Power Global (NYSE AZRE) traded up 0.32% during mid-day trading on Thursday, hitting $15.49. 23,875 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $15.15 and its 200-day moving average price is $15.15. Azure Power Global has a 12 month low of $14.20 and a 12 month high of $22.00. The stock’s market cap is $401.75 million.

Azure Power Global (NYSE:AZRE) last posted its earnings results on Friday, August 11th. The energy company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). Azure Power Global had a negative return on equity of 9.96% and a negative net margin of 18.15%. The firm had revenue of $29.06 million during the quarter, compared to analysts’ expectations of $28.50 million. Equities analysts expect that Azure Power Global will post ($0.47) EPS for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its position in shares of Azure Power Global by 7.9% during the 1st quarter. Morgan Stanley now owns 652,261 shares of the energy company’s stock valued at $12,171,000 after buying an additional 47,731 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of Azure Power Global by 10.0% during the 2nd quarter. Essex Investment Management Co. LLC now owns 212,982 shares of the energy company’s stock valued at $3,474,000 after buying an additional 19,326 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Azure Power Global by 32.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 105,014 shares of the energy company’s stock valued at $1,762,000 after buying an additional 25,431 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Azure Power Global by 21.9% during the 2nd quarter. Van ECK Associates Corp now owns 43,754 shares of the energy company’s stock valued at $714,000 after buying an additional 7,852 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Azure Power Global during the 1st quarter valued at $328,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

About Azure Power Global

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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