Quentec Asset Management LLC reduced its stake in shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 671,151 shares of the solar energy provider’s stock after selling 29,812 shares during the quarter. Sky Solar comprises about 0.1% of Quentec Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. Quentec Asset Management LLC owned 0.17% of Sky Solar worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) opened at $1.50 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.46 and a quick ratio of 2.37. Sky Solar Holdings, Ltd. has a 52 week low of $1.00 and a 52 week high of $3.62.
Several equities research analysts have weighed in on SKYS shares. Zacks Investment Research raised Sky Solar from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a research note on Thursday, October 26th. ValuEngine raised Sky Solar from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Roth Capital raised Sky Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $1.30 to $5.00 in a research note on Wednesday, October 11th. BidaskClub raised Sky Solar from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Oppenheimer reissued a “buy” rating and set a $5.00 price objective on shares of Sky Solar in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Sky Solar has an average rating of “Buy” and a consensus target price of $3.92.
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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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