Azure Power Global Limited (NYSE:AZRE) Short Interest Update

Azure Power Global Limited (NYSE:AZRE – Get Rating) saw a large decline in short interest during the month of December. As of December 30th, there was short interest totalling 1,760,000 shares, a decline of 8.3% from the December 15th total of 1,920,000 shares. Based on an average daily volume of 358,500 shares, the days-to-cover ratio is currently 4.9 days.

Azure Power Global Stock Performance

Shares of AZRE stock traded down $0.02 during trading hours on Tuesday, hitting $4.12. The company had a trading volume of 40,110 shares, compared to its average volume of 268,921. The company’s fifty day moving average is $4.84 and its 200 day moving average is $6.72. Azure Power Global has a fifty-two week low of $3.26 and a fifty-two week high of $21.53.

Analysts Set New Price Targets

Several equities analysts have weighed in on AZRE shares. Credit Suisse Group decreased their target price on shares of Azure Power Global from $5.00 to $4.00 and set an “underperform” rating on the stock in a report on Friday, January 13th. StockNews.com started coverage on shares of Azure Power Global in a report on Wednesday, January 18th. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On Azure Power Global

Several large investors have recently made changes to their positions in AZRE. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Azure Power Global by 41.2% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,258,963 shares of the energy company’s stock worth $805,096,000 after acquiring an additional 9,999,691 shares during the last quarter. Kayne Anderson Capital Advisors LP acquired a new position in shares of Azure Power Global in the 3rd quarter worth approximately $2,372,000. First Trust Advisors LP lifted its holdings in shares of Azure Power Global by 50.4% in the 3rd quarter. First Trust Advisors LP now owns 731,802 shares of the energy company’s stock worth $4,054,000 after acquiring an additional 245,274 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Azure Power Global by 41.5% in the 1st quarter. BlackRock Inc. now owns 786,841 shares of the energy company’s stock worth $13,093,000 after acquiring an additional 230,882 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Azure Power Global by 29.5% in the 2nd quarter. State Street Corp now owns 773,321 shares of the energy company’s stock worth $8,816,000 after acquiring an additional 176,335 shares during the last quarter.

Azure Power Global Company Profile

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Azure Power Global Limited operates as an independent sustainable energy solutions provider and power producer in India. The company builds and operates grid-scale solar, wind, and hybrid projects; and supplies generated renewable power to government utilities, and independent industrial and commercial customers on long term fixed price contracts.