Azure Power Global Limited (NYSE:AZRE – Get Rating) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,620,000 shares, a drop of 16.5% from the April 30th total of 1,940,000 shares. Based on an average daily trading volume, of 202,800 shares, the short-interest ratio is currently 8.0 days.
Shares of AZRE stock traded down $0.69 during midday trading on Wednesday, reaching $14.17. 1,949 shares of the company traded hands, compared to its average volume of 120,531. The firm’s 50 day simple moving average is $15.08 and its two-hundred day simple moving average is $16.71. Azure Power Global has a 1-year low of $11.11 and a 1-year high of $28.14. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $684.84 million, a PE ratio of -17.28 and a beta of 0.80.
Several research firms have recently commented on AZRE. Zacks Investment Research lowered Azure Power Global from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. StockNews.com upgraded Azure Power Global from a “sell” rating to a “hold” rating in a research note on Wednesday, March 30th. Finally, Royal Bank of Canada cut their price target on Azure Power Global from $39.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, March 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $29.90.
Azure Power Global Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Azure Power Global (AZRE)
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