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Azure Power Global Limited (AZRE) Stock Could Soon Reward Patient Investors

Azure Power Global Limited (NYSE: AZRE) is -39.54% lower on its value in year-to-date trading and has touched a low of $13.50 and a high of $53.60 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AZRE stock was last observed hovering at around $24.99 in the last trading session, with the day’s loss setting it -0.34% off its average median price target of $45.00 for the next 12 months. It is also 53.49% off the consensus price target high of $53.00 offered by 5 analysts, but current levels are 33.38% higher than the price target low of $37.00 for the same period.

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Currently trading at $24.65, the stock is -7.01% and -13.25% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.36 million and changing -1.36% at the moment leaves the stock -18.48% off its SMA200. AZRE registered 67.23% gain for a year compared to 6-month loss of -7.50%. The firm has a 50-day simple moving average (SMA 50) of $27.34 and a 200-day simple moving average (SMA200) of $32.87.

The stock witnessed a -3.71% gain in the last 1 month and extending the period to 3 months gives it a -35.66%, and is -0.20% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.23% over the week and 5.52% over the month.

Azure Power Global Limited (AZRE) has around 605 employees, a market worth around $1.15B and $194.90M in sales. Profit margin for the company is -9.40%. Distance from 52-week low is 82.59% and -54.01% from its 52-week high. The company has generated returns on investments over the last 12 months (5.20%).

Azure Power Global Limited (AZRE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Azure Power Global Limited (AZRE) is a “Buy”. 5 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Azure Power Global Limited is expected to release its quarterly report on 08/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.05 with sales reaching $60.51M over the same period.The EPS is expected to grow by 57.10% this year, but quarterly earnings will post 21.90% year-over-year. Quarterly sales are estimated to grow 24.30% in year-over-year returns.

Azure Power Global Limited (AZRE) Top Institutional Holders

79 institutions hold shares in Azure Power Global Limited (AZRE), with 3M shares held by insiders accounting for 6.23% while institutional investors hold 97.34% of the company’s shares. The shares outstanding are 48.10M, and float is at 44.74M with Short Float at 1.62%. Institutions hold 91.27% of the Float.

The top institutional shareholder in the company is Caisse De Depot Et Placement Du Quebec with over 24.26 million shares valued at $989.05 million. The investor’s holdings represent 50.36% of the AZRE Shares outstanding. As of Dec 30, 2020, the second largest holder is Invesco Ltd. with 2.41 million shares valued at $98.1 million to account for 5.00% of the shares outstanding. The other top investors are Morgan Stanley which holds 1.33 million shares representing 2.76% and valued at over $54.23 million, while Franklin Resources, Inc. holds 1.64% of the shares totaling 0.79 million with a market value of $32.23 million.

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