ValuEngine upgraded shares of Sky Solar (NASDAQ:SKYS) from a sell rating to a hold rating in a research report sent to investors on Friday.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Sky Solar from a hold rating to a buy rating and set a $2.25 target price on the stock in a research report on Wednesday, October 18th. Roth Capital raised Sky Solar from a neutral rating to a buy rating and boosted their target price for the stock from $1.30 to $5.00 in a research report on Wednesday, October 11th. Oppenheimer reissued a buy rating and set a $5.00 price target on shares of Sky Solar in a research report on Friday, September 29th. Finally, BidaskClub raised Sky Solar from a strong sell rating to a sell rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $3.92.

Shares of Sky Solar (NASDAQ SKYS) traded down $0.04 during trading on Friday, hitting $1.54. The stock had a trading volume of 157,400 shares, compared to its average volume of 94,092. The company has a current ratio of 3.46, a quick ratio of 2.37 and a debt-to-equity ratio of 1.53. Sky Solar has a 12 month low of $1.00 and a 12 month high of $3.62.

A hedge fund recently raised its stake in Sky Solar stock. Quentec Asset Management LLC boosted its holdings in shares of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) by 17.3% during the 2nd 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 buying an additional 103,433 shares during the period. Sky Solar makes up about 0.1% of Quentec Asset Management LLC’s holdings, making the stock its 28th biggest position. Quentec Asset Management LLC owned approximately 1.34% of Sky Solar worth $1,051,000 at the end of the most recent quarter. 0.40% of the stock is owned by hedge funds and other institutional investors.

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About Sky Solar

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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