Shares of Azure Power Global Ltd (NYSE:AZRE) have received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Analysts have set a 1 year consensus price target of $22.00 for the company and are predicting that the company will post ($0.15) EPS for the current quarter, according to Zacks. Zacks has also assigned Azure Power Global an industry rank of 50 out of 265 based on the ratings given to related companies.
A number of research firms have recently weighed in on AZRE. BidaskClub raised shares of Azure Power Global from a “sell” rating to a “hold” rating in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Azure Power Global from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Finally, Roth Capital set a $22.00 price target on shares of Azure Power Global and gave the stock a “buy” rating in a research note on Sunday, August 20th.
Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in Azure Power Global by 1.8% during the first quarter. Bank of America Corp DE now owns 10,529 shares of the energy company’s stock worth $197,000 after buying an additional 190 shares during the last quarter. CAPROCK Group Inc. acquired a new position in Azure Power Global during the second quarter worth $220,000. Van ECK Associates Corp increased its position in Azure Power Global by 21.9% during the second quarter. Van ECK Associates Corp now owns 43,754 shares of the energy company’s stock worth $714,000 after buying an additional 7,852 shares during the last quarter. Finally, Cohen & Steers Inc. increased its position in Azure Power Global by 31.4% during the third quarter. Cohen & Steers Inc. now owns 455,571 shares of the energy company’s stock worth $7,244,000 after buying an additional 108,906 shares during the last quarter. 42.83% of the stock is currently owned by hedge funds and other institutional investors.
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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