Sky Solar Holdings, Ltd. (SKYS) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $2.00 price objective on the solar energy provider’s stock.
According to Zacks, “Sky Solar Holdings, Ltd. is a global independent power producer. It develops, owns and operates solar parks. The Company is focused on the downstream solar market and has developed projects in Asia, South America, Europe, North America and Africa. It also sells solar energy systems, including pipelines to utility companies, independent power developers and producers, commercial and industrial companies, and other solar energy system owners. The Company is involved in the engineering design; construction contracting and management; and procurement of PV modules, balance-of-system components, and other components, as well as building and transferring solar parks. Sky Solar Holdings, Ltd. is based in Central, Hong Kong. “
A number of other equities research analysts also recently issued reports on SKYS. BidaskClub raised shares of Sky Solar Holdings from a strong sell rating to a sell rating in a research report on Friday, August 25th. Oppenheimer Holdings, Inc. reaffirmed a buy rating and issued a $5.00 price objective on shares of Sky Solar Holdings in a research report on Friday, September 29th. Finally, Roth Capital raised shares of Sky Solar Holdings from a neutral rating to a buy rating and upped their price objective for the stock from $1.30 to $5.00 in a research report on Wednesday, October 11th.
Shares of Sky Solar Holdings (NASDAQ:SKYS) traded down 1.09% during midday trading on Thursday, reaching $1.81. 26,764 shares of the company traded hands. The company has a 50-day moving average of $1.67 and a 200 day moving average of $1.64. Sky Solar Holdings has a 12-month low of $1.00 and a 12-month high of $3.62. The firm has a market capitalization of $88.24 million, a PE ratio of 22.62 and a beta of 1.90.
A hedge fund recently raised its stake in Sky Solar Holdings stock. Quentec Asset Management LLC grew its stake in shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) by 17.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 700,963 shares of the solar energy provider’s stock after acquiring an additional 103,433 shares during the period. Sky Solar Holdings comprises 0.1% of Quentec Asset Management LLC’s investment portfolio, making the stock its 28th biggest position. Quentec Asset Management LLC owned approximately 1.34% of Sky Solar Holdings worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.43% of the company’s stock.
About Sky Solar Holdings
Sky Solar Holdings, Ltd. is an investment holding company. The Company is an independent power producer (IPP) engaged in developing, owning and operating solar parks. The Company focuses on the downstream solar market and develops projects primarily in Asia, South America, Europe and North America. Its subsidiaries are engaged in activities, such as selling electricity generated from solar parks owned by the Company as IPP; pipeline (including obtaining permits required for solar power projects and sourcing of solar modules), and providing engineering, procurement and construction (EPC) services ; providing operating and maintenance (O&M) services for solar parks; sales of solar modules, and building and transferring of solar parks (BT).
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