Azure Power Global Ltd (NYSE:AZRE) has earned a consensus recommendation of “Buy” from the seven research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $20.55.
A number of research firms have weighed in on AZRE. Barclays upgraded Azure Power Global from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $13.00 to $19.00 in a research note on Friday, November 8th. Jefferies Financial Group assumed coverage on Azure Power Global in a research note on Monday, November 25th. They set a “buy” rating and a $15.20 price objective on the stock. HSBC assumed coverage on Azure Power Global in a report on Thursday, October 17th. They issued a “buy” rating for the company. Zacks Investment Research cut shares of Azure Power Global from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 20th. Finally, ValuEngine downgraded shares of Azure Power Global from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.
AZRE traded down $0.03 on Tuesday, hitting $12.89. 3,300 shares of the company were exchanged, compared to its average volume of 22,375. The stock’s fifty day moving average is $12.75 and its 200-day moving average is $11.48. Azure Power Global has a 12 month low of $8.25 and a 12 month high of $13.38. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $532.29 million, a PE ratio of 99.15 and a beta of 1.31.
About Azure Power Global
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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