Azure Power Global Limited (NYSE: AZRE) Rose 16.75% From Its 52-Week Low; YTD Numbers Fall -34.21% – Here Are Some Things To Keep In Mind – Marketing Sentinel
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Azure Power Global Limited (NYSE: AZRE) Rose 16.75% From Its 52-Week Low; YTD Numbers Fall -34.21% – Here Are Some Things To Keep In Mind

During the last session, Azure Power Global Limited (NYSE:AZRE)’s traded shares were 0.19 million, with the beta value of the company hitting 0.92. At the end of the trading day, the stock’s price was $11.94, reflecting an intraday loss of -0.50% or -$0.06. The 52-week high for the AZRE share is $26.04, that puts it down -118.09 from that peak though still a striking 16.75% gain since the share price plummeted to a 52-week low of $9.94. The company’s market capitalization is $717.24M, and the average intraday trading volume over the past 10 days was 0.26 million shares, and the average trade volume was 189.93K shares over the past three months.

Azure Power Global Limited (AZRE) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.80. AZRE has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.12.

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Azure Power Global Limited (NYSE:AZRE) trade information

Azure Power Global Limited (AZRE) registered a -0.50% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.50% in intraday trading to $11.94 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is -2.45%, and it has moved by 2.49% in 30 days. Based on these gigs, the overall price performance for the year is -52.56%. The short interest in Azure Power Global Limited (NYSE:AZRE) is 2.0 million shares and it means that shorts have 7.38 day(s) to cover.

The consensus price target of analysts on Wall Street is $17.50, which implies an increase of 31.77% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $17.50 and $17.50 respectively. As a result, AZRE is trading at a discount of -46.57% off the target high and -46.57% off the low.

Azure Power Global Limited (AZRE) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -7.70% this quarter and then jump 45.00% in the quarter after that. In the rating firms’ projections, revenue will increase 17.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $71.52 million as predicted by 3 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $79.94 million by the end of Jun 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $58.4 million and $56.56 million respectively. In this case, analysts expect current quarter sales to grow by 22.50% and then jump by 41.30% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 7.40%. While earnings are projected to return -66.30% in 2022, the next five years will return 0.30% per annum.

AZRE Dividends

Azure Power Global Limited is due to release its next quarterly earnings between February 08 and February 12. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Azure Power Global Limited (NYSE:AZRE)’s Major holders

Azure Power Global Limited insiders own 0.06% of total outstanding shares while institutional holders control 103.90%, with the float percentage being 103.97%. Caisse De Depot Et Placement Du Quebec is the largest shareholder of the company, while 111 institutions own stock in it. As of Mar 30, 2022, the company held over 34.26 million shares (or 70.88% of all shares), a total value of $570.07 million in shares.

The next largest institutional holding, with 13.76 million shares, is of OMERS Administration Corporation’s that is approximately 28.47% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $228.96 million.

Also, the Mutual Funds coming in first place with the largest holdings of Azure Power Global Limited (AZRE) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Invesco ETF TR II-Invesco Solar ETF. Data provided on Jun 29, 2022 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 1.22 million shares. This amounts to just over 2.52 percent of the company’s overall shares, with a $13.91 million market value. The same data shows that the other fund manager holds slightly less at 1.12 million, or about 2.31% of the stock, which is worth about $12.72 million.

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