Azure Power Global (NYSE:AZRE) Downgraded by Credit Suisse Group to “Underperform”

Azure Power Global (NYSE:AZREGet Rating) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to an “underperform” rating in a report issued on Tuesday, MarketBeat reports.

Separately, StockNews.com upgraded shares of Azure Power Global from a “sell” rating to a “hold” rating in a report on Saturday, July 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.88.

Azure Power Global Trading Up 2.5 %

NYSE:AZRE traded up $0.09 during trading hours on Tuesday, hitting $3.68. The stock had a trading volume of 2,190,359 shares, compared to its average volume of 284,138. The business’s 50 day moving average is $11.25 and its 200-day moving average is $14.04. The company has a market cap of $177.87 million, a price-to-earnings ratio of -3.98 and a beta of 0.91. Azure Power Global has a one year low of $3.26 and a one year high of $25.30. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.61 and a current ratio of 0.61.

Institutional Trading of Azure Power Global

Several institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Azure Power Global during the first quarter worth about $49,000. BNP Paribas Arbitrage SA lifted its stake in shares of Azure Power Global by 527.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,981 shares of the energy company’s stock valued at $80,000 after acquiring an additional 5,869 shares during the last quarter. UBS Group AG boosted its holdings in shares of Azure Power Global by 14.9% during the 2nd quarter. UBS Group AG now owns 10,047 shares of the energy company’s stock valued at $114,000 after acquiring an additional 1,302 shares in the last quarter. Bank of Montreal Can acquired a new position in Azure Power Global in the 2nd quarter worth about $142,000. Finally, Shay Capital LLC raised its position in Azure Power Global by 10.5% in the fourth quarter. Shay Capital LLC now owns 10,533 shares of the energy company’s stock valued at $191,000 after purchasing an additional 1,000 shares during the last quarter.

Azure Power Global Company Profile

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Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of renewable energy projects 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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