Zacks Investment Research upgraded shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $2.25 target price 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. “
SKYS has been the topic of several other research reports. Roth Capital upgraded shares of Sky Solar Holdings from a neutral rating to a buy rating and raised their target price for the stock from $1.30 to $5.00 in a report on Wednesday, October 11th. BidaskClub upgraded shares of Sky Solar Holdings from a strong sell rating to a sell rating in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. restated a buy rating and issued a $5.00 target price on shares of Sky Solar Holdings in a report on Friday, September 29th.
Shares of Sky Solar Holdings (SKYS) traded down 1.02% on Wednesday, hitting $1.95. 19,298 shares of the stock were exchanged. The company has a market cap of $103.65 million, a price-to-earnings ratio of 9.42 and a beta of 1.90. Sky Solar Holdings has a 52-week low of $1.00 and a 52-week high of $3.62. The company has a 50 day moving average of $1.61 and a 200 day moving average of $1.65.
A hedge fund recently raised its stake in Sky Solar Holdings stock. Quentec Asset Management LLC raised its position in shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) by 17.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 700,963 shares of the solar energy provider’s stock after buying an additional 103,433 shares during the quarter. Sky Solar Holdings comprises approximately 0.1% of Quentec Asset Management LLC’s portfolio, making the stock its 28th biggest position. Quentec Asset Management LLC owned 1.34% of Sky Solar Holdings worth $1,051,000 at the end of the most recent quarter. 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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