Sky Solar Holdings, Ltd. (SKYS) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) from a sell rating to a hold rating in a research report report published on Wednesday. The brokerage currently has $1.50 price target 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. “

Separately, Roth Capital set a $8.00 price target on Sky Solar Holdings and gave the stock a buy rating in a report on Thursday, May 18th.

Shares of Sky Solar Holdings (NASDAQ:SKYS) traded up 2.90% on Wednesday, reaching $1.42. The company had a trading volume of 25,571 shares. The company has a 50 day moving average of $1.55 and a 200-day moving average of $1.91. Sky Solar Holdings has a 52 week low of $1.00 and a 52 week high of $5.40. The company has a market capitalization of $74.47 million, a P/E ratio of 18.93 and a beta of 1.82.

Sky Solar Holdings (NASDAQ:SKYS) last announced its quarterly earnings results on Monday, May 15th. The solar energy provider reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.09. The business had revenue of $13.83 million for the quarter. Sky Solar Holdings had a negative return on equity of 2.47% and a net margin of 4.72%. Analysts predict that Sky Solar Holdings will post ($0.03) earnings per share for the current fiscal year.

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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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