Azure Power Global Ltd (NYSE:AZRE) Receives $20.55 Consensus Target Price from Analysts

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Shares of Azure Power Global Ltd (NYSE:AZRE) have been assigned an average rating of “Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.55.

A number of analysts have issued reports on AZRE shares. ValuEngine downgraded shares of Azure Power Global from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research downgraded shares of Azure Power Global from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 20th. Jefferies Financial Group started coverage on shares of Azure Power Global in a report on Monday, November 25th. They issued a “buy” rating and a $15.20 price objective for the company. HSBC started coverage on shares of Azure Power Global in a report on Thursday, October 17th. They issued a “buy” rating for the company. Finally, Barclays raised shares of Azure Power Global from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $19.00 in a report on Friday, November 8th.

NYSE AZRE traded down $0.21 during trading on Tuesday, reaching $12.74. The company’s stock had a trading volume of 27,900 shares, compared to its average volume of 22,311. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.41. The firm has a market capitalization of $531.47 million, a price-to-earnings ratio of 98.00 and a beta of 1.31. Azure Power Global has a 12 month low of $8.25 and a 12 month high of $13.38. The firm has a 50 day moving average price of $12.86 and a 200 day moving average price of $11.54.

Large investors have recently modified their holdings of the company. Kayne Anderson Capital Advisors LP raised its position in shares of Azure Power Global by 64.9% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 72,700 shares of the energy company’s stock valued at $872,000 after buying an additional 28,600 shares in the last quarter. Morgan Stanley raised its position in shares of Azure Power Global by 16.2% in the 2nd quarter. Morgan Stanley now owns 1,791,165 shares of the energy company’s stock valued at $18,897,000 after buying an additional 249,663 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Azure Power Global by 20.5% in the 2nd quarter. Renaissance Technologies LLC now owns 164,161 shares of the energy company’s stock valued at $1,732,000 after buying an additional 27,901 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Azure Power Global by 16.3% in the 2nd quarter. Wells Fargo & Company MN now owns 15,065 shares of the energy company’s stock valued at $159,000 after buying an additional 2,110 shares in the last quarter. Institutional investors own 53.26% of the company’s stock.

Azure Power Global Company Profile

Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers.

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Analyst Recommendations for Azure Power Global (NYSE:AZRE)

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