Sky Solar (SKYS) Cut to “Strong Sell” at BidaskClub

Sky Solar (NASDAQ:SKYS) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

A number of other brokerages have also issued reports on SKYS. Zacks Investment Research raised Sky Solar from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Wednesday, October 18th. Oppenheimer reissued a “buy” rating and issued a $5.00 target price on shares of Sky Solar in a research report on Friday, September 29th. Roth Capital raised Sky Solar from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $1.30 to $5.00 in a research report on Wednesday, October 11th. Finally, ValuEngine raised Sky Solar from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $3.92.

Shares of Sky Solar (SKYS) traded down $0.01 during midday trading on Friday, reaching $1.51. The company’s stock had a trading volume of 184,921 shares, compared to its average volume of 131,100. The stock has a market capitalization of $581.15, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 0.43 and a beta of 1.81. The company has a current ratio of 3.46, a quick ratio of 2.37 and a debt-to-equity ratio of 1.53. Sky Solar has a 52 week low of $1.00 and a 52 week high of $3.62.

An institutional investor recently raised its position in Sky Solar stock. Quentec Asset Management LLC lifted its stake in shares of Sky Solar Holdings Ltd (NASDAQ:SKYS) by 17.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 700,963 shares of the solar energy provider’s stock after acquiring an additional 103,433 shares during the quarter. Sky Solar accounts for about 0.1% of Quentec Asset Management LLC’s portfolio, making the stock its 28th largest position. Quentec Asset Management LLC owned 1.34% of Sky Solar worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 0.40% of the company’s stock.

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Sky Solar Company Profile

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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