Two Sigma Investments LP trimmed its position in shares of Azure Power Global Ltd (NYSE:AZRE) by 44.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,497 shares of the energy company’s stock after selling 12,354 shares during the quarter. Two Sigma Investments LP’s holdings in Azure Power Global were worth $140,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Morgan Stanley lifted its stake in shares of Azure Power Global by 0.7% in the third quarter. Morgan Stanley now owns 1,153,799 shares of the energy company’s stock worth $18,668,000 after acquiring an additional 7,683 shares during the period. Kayne Anderson Capital Advisors LP acquired a new position in shares of Azure Power Global in the fourth quarter worth approximately $718,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Azure Power Global in the fourth quarter worth approximately $30,000. Franklin Resources Inc. acquired a new position in shares of Azure Power Global in the third quarter worth approximately $4,532,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Azure Power Global by 47.2% in the fourth quarter. Handelsbanken Fonder AB now owns 786,610 shares of the energy company’s stock worth $7,119,000 after acquiring an additional 252,097 shares during the period. 51.79% of the stock is currently owned by institutional investors.
Shares of AZRE opened at $11.78 on Wednesday. Azure Power Global Ltd has a 52-week low of $8.25 and a 52-week high of $16.50. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $493.96 million, a price-to-earnings ratio of 403.33 and a beta of 1.94.
Azure Power Global (NYSE:AZRE) last issued its quarterly earnings results on Tuesday, February 12th. The energy company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.17. Azure Power Global had a return on equity of 0.81% and a net margin of 0.24%. The firm had revenue of $34.94 million for the quarter, compared to analyst estimates of $30.70 million. Equities analysts predict that Azure Power Global Ltd will post 0.12 earnings per share for the current year.
Several brokerages have issued reports on AZRE. Zacks Investment Research lowered Azure Power Global from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Credit Suisse Group set a $22.00 price target on Azure Power Global and gave the company a “buy” rating in a research note on Thursday, February 14th. Finally, Barclays reissued a “hold” rating and issued a $13.00 price target on shares of Azure Power Global in a research note on Monday, February 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Azure Power Global currently has an average rating of “Buy” and an average price target of $19.75.
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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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