StockNews.com Begins Coverage on Azure Power Global (NYSE:AZRE)

StockNews.com started coverage on shares of Azure Power Global (NYSE:AZRE – Get Rating) in a research note published on Wednesday. The brokerage issued a sell rating on the energy company’s stock.

Separately, Credit Suisse Group cut their target price on shares of Azure Power Global from $5.00 to $4.00 and set an underperform rating for the company in a research report on Friday, January 13th.

Azure Power Global Trading Up 6.0 %

AZRE stock opened at $2.11 on Wednesday. Azure Power Global has a 1 year low of $1.88 and a 1 year high of $21.53. The company has a fifty day simple moving average of $3.63 and a 200 day simple moving average of $4.64. The firm has a market cap of $101.98 million, a PE ratio of -2.45 and a beta of 0.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AZRE. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Azure Power Global by 41.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,258,963 shares of the energy company’s stock worth $805,096,000 after purchasing an additional 9,999,691 shares during the period. Invesco Ltd. increased its holdings in shares of Azure Power Global by 2.9% during the 1st quarter. Invesco Ltd. now owns 2,592,541 shares of the energy company’s stock worth $43,139,000 after purchasing an additional 73,694 shares during the period. Legal & General Group Plc increased its holdings in shares of Azure Power Global by 23.2% during the 4th quarter. Legal & General Group Plc now owns 1,387,935 shares of the energy company’s stock worth $5,982,000 after purchasing an additional 261,022 shares during the period. Franklin Resources Inc. increased its holdings in shares of Azure Power Global by 3.5% during the 2nd quarter. Franklin Resources Inc. now owns 1,333,115 shares of the energy company’s stock worth $15,197,000 after purchasing an additional 44,700 shares during the period. Finally, State Street Corp increased its holdings in shares of Azure Power Global by 7.9% during the 3rd quarter. State Street Corp now owns 834,702 shares of the energy company’s stock worth $4,624,000 after purchasing an additional 61,381 shares during the period.

About Azure Power Global

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Azure Power Global Ltd. is a holding company, which engages in the development, production, and sale of solar energy. It offers services to government utilities; and independent industrial and commercial customers. The company was founded by Harkanwal Singh Wadhwa and Inderpreet Singh Wadhwa in 2008 and is headquartered in New Delhi, India.