Roth Capital upgraded shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) from a neutral rating to a buy rating in a research note published on Wednesday morning. They currently have $5.00 target price on the solar energy provider’s stock, up from their previous target price of $1.30.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Sky Solar Holdings from a hold rating to a sell rating in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a buy rating and set a $5.00 target price on shares of Sky Solar Holdings in a research report on Friday, September 29th. Finally, BidaskClub upgraded shares of Sky Solar Holdings from a strong sell rating to a sell rating in a research report on Friday, August 25th.
Sky Solar Holdings (SKYS) traded up 0.5316% during mid-day trading on Wednesday, reaching $1.9101. 72,969 shares of the company’s stock were exchanged. Sky Solar Holdings has a 52-week low of $1.00 and a 52-week high of $3.62. The stock has a market cap of $101.53 million, a price-to-earnings ratio of 9.2275 and a beta of 1.90. The company has a 50-day moving average of $1.50 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 increased its position in Sky Solar Holdings, Ltd. (NASDAQ:SKYS) by 17.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 700,963 shares of the solar energy provider’s stock after acquiring an additional 103,433 shares during the quarter. Sky Solar Holdings comprises about 0.1% of Quentec Asset Management LLC’s holdings, making the stock its 28th biggest holding. Quentec Asset Management LLC owned 1.34% of Sky Solar Holdings worth $1,051,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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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