Zacks: Sky Solar Holdings Ltd (SKYS) Given Average Recommendation of “Strong Buy” by Brokerages
Sky Solar Holdings Ltd (NASDAQ:SKYS) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus target price of $5.00 for the company, according to Zacks. Zacks has also assigned Sky Solar an industry rank of 218 out of 265 based on the ratings given to related companies.
SKYS has been the subject of a number of research reports. Zacks Investment Research raised shares of Sky Solar from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research note on Thursday, October 26th. ValuEngine raised shares of Sky Solar from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Roth Capital raised shares of Sky Solar from a “neutral” rating to a “buy” rating and lifted their target price for the company from $1.30 to $5.00 in a research note on Wednesday, October 11th. Finally, Oppenheimer reissued a “buy” rating and set a $5.00 target price on shares of Sky Solar in a research note on Friday, September 29th.
A hedge fund recently raised its stake in Sky Solar stock. Quentec Asset Management LLC grew its holdings in shares of Sky Solar Holdings Ltd (NASDAQ:SKYS) by 17.3% during the second 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 comprises about 0.1% of Quentec Asset Management LLC’s investment portfolio, making the stock its 28th biggest position. Quentec Asset Management LLC owned approximately 1.34% of Sky Solar worth $1,051,000 at the end of the most recent quarter. Institutional investors own 0.40% of the company’s stock.
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About Sky Solar
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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