Azure Power Global Limited (NYSE:AZRE) concluded the trading at $5.67 on Wednesday, November 23 with a rise of 7.59% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $5.27 and 5Y monthly beta was reading 0.72 with its price kept floating in the range of $5.22 and $5.85 on the day. Considering stock’s 52-week price range provides that AZRE hit a high price of $22.60 and saw its price falling to a low level of $3.26 during that period. Over a period of past 1-month, stock came adding 7.18% in its value.
With its current market valuation of $388.79 million, Azure Power Global Limited is set to declare its quarterly results on Dec 08, 2022 – Dec 12, 2022. Analysts are in estimates of $0.13 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $0.07 for 2022 with estimates of that growing to $0.96 in next year. These estimates are suggesting current year growth of 125.90% for EPS and 1,271.40% growth next year.
Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $69.1 million. They suggested that in the process company could generate revenue of as low as $67.1 million which could climb up to $70.61 million to hit a high. The average estimate is representing an increase of 18.30% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $246.87 million in 2022, which will be 18.50% more from revenue generated by the company last year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review AZRE stock’s current outlook then short term indicators are assigning it an average of Hold, while medium term indicators are categorizing the stock at an average of 50% Sell. Long term indicators are suggesting an average of 100% Sell for it.
Digging deeper we become aware of the PEG ratio of the AZRE stock which is currently positioned at 0. It further provides that stock’s current price level is 0.52% away from its 20-day simple moving average and is 2.74% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 51.14 while volatility remained at 6.93% over the past week which changes to 8.36% when measuring it over the past month. Beta is valued at 0.73, while measure of average true range or ATR is currently at 0.46.
Having a second look at Azure Power Global Limited (NYSE:AZRE) provides that stock’s average daily trading volume for 3 months was 908.64K, while it jumped to 0.24 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 64.16 million.
The percentage of outstanding shares held by the insiders is 0.06% while it is 98.80% for the institutional holders. The figures also indicate that as of Oct 13, 2022, number of stock’s short shares was 2.52 million which implies a short ratio of 2.81. This shows up a 3.94% of Short Interest in company’s outstanding shares on the day. In October the standing of shares short improved as it was 1.95 million in the previous month. Subtraction of -68.76% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.