Azure Power Global Ltd’s (AZRE) Quiet Period Set To End on November 21st
Azure Power Global’s (NYSE:AZRE) quiet period will end on Monday, November 21st. Azure Power Global had issued 3,409,091 shares in its public offering on October 12th. The total size of the offering was $61,363,638 based on an initial share price of $18.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Separately, Credit Suisse Group AG began coverage on shares of Azure Power Global in a research note on Monday, November 7th. They issued an “outperform” rating and a $21.00 price target for the company.
Shares of Azure Power Global (NYSE:AZRE) opened at 17.0487 on Wednesday. The firm has a 50-day moving average of $15.90 and a 200 day moving average of $15.90. Azure Power Global has a 1-year low of $12.73 and a 1-year high of $17.24. The company’s market capitalization is $29.97 million.
About Azure Power Global
Azure Power Global Limited is an India-based power producer. The Company sells solar power in India on long term fixed price contracts to its customers. The Company is also developing micro-grid applications for the highly fragmented and underserved electricity market in India. The Company operates approximately 20 utility scale projects and several commercial rooftop projects with a combined rated capacity of approximately 240 megawatts.
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