Shares of Azure Power Global Ltd (NYSE:AZRE) reached a new 52-week low on Tuesday . The stock traded as low as $13.83 and last traded at $13.83, with a volume of 18611 shares changing hands. The stock had previously closed at $14.37.

Several analysts have weighed in on AZRE shares. BidaskClub raised Azure Power Global from a “sell” rating to a “hold” rating in a research report on Thursday, October 19th. Zacks Investment Research raised Azure Power Global from a “sell” rating to a “hold” rating in a research report on Thursday, August 31st. Finally, Roth Capital set a $22.00 price objective on Azure Power Global and gave the company a “buy” rating in a research report on Sunday, August 20th.

The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 3.77.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cohen & Steers Inc. boosted its position in shares of Azure Power Global by 31.4% in the 3rd quarter. Cohen & Steers Inc. now owns 455,571 shares of the energy company’s stock worth $7,244,000 after purchasing an additional 108,906 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Azure Power Global by 21.9% in the 2nd quarter. Van ECK Associates Corp now owns 43,754 shares of the energy company’s stock worth $714,000 after purchasing an additional 7,852 shares in the last quarter. CAPROCK Group Inc. bought a new stake in shares of Azure Power Global in the 2nd quarter worth approximately $220,000. Finally, Bank of America Corp DE boosted its position in shares of Azure Power Global by 1.8% in the 1st quarter. Bank of America Corp DE now owns 10,529 shares of the energy company’s stock worth $197,000 after purchasing an additional 190 shares in the last quarter. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

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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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