Azure Power Global Ltd (NYSE:AZRE) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus target price of $22.00 for the company and are forecasting that the company will post ($0.15) EPS for the current quarter, according to Zacks. Zacks has also given Azure Power Global an industry rank of 21 out of 265 based on the ratings given to its competitors.

Several equities analysts have recently issued reports on AZRE shares. Zacks Investment Research raised shares of Azure Power Global from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. BidaskClub raised shares of Azure Power Global from a “strong sell” rating to a “sell” rating in a report on Thursday, September 21st.

A hedge fund recently raised its stake in Azure Power Global stock. Van ECK Associates Corp lifted its stake in shares of Azure Power Global Ltd (NYSE:AZRE) by 21.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,754 shares of the energy company’s stock after purchasing an additional 7,852 shares during the quarter. Van ECK Associates Corp owned about 0.17% of Azure Power Global worth $714,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 42.74% of the company’s stock.

Azure Power Global (NYSE:AZRE) opened at $15.61 on Friday. The company has a market cap of $384.06, a price-to-earnings ratio of -14.32 and a beta of 0.02. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 3.77. Azure Power Global has a 1-year low of $12.53 and a 1-year high of $22.00.

COPYRIGHT VIOLATION NOTICE: “Zacks: Azure Power Global Ltd (AZRE) Given $22.00 Average Target Price by Brokerages” was first published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/05/zacks-azure-power-global-ltd-azre-given-22-00-average-target-price-by-brokerages.html.

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.

Get a free copy of the Zacks research report on Azure Power Global (AZRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Azure Power Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Azure Power Global and related companies with MarketBeat.com's FREE daily email newsletter.