Roth Capital Reaffirms Their Buy Rating on Sky Solar

By Austin Angelo

Roth Capital analyst Philip Shen reiterated a Buy rating on Sky Solar (NASDAQ: SKYS) yesterday and set a price target of $8. The company’s shares opened today at $1.86, close to its 52-week low of $1.50.

Shen observed:

“We continue to wait for the Japanese asset sale. Our liquidation analysis (see inside note for details), which excludes the value of early/late stage pipeline, suggests the liquidation value of operating assets alone of ~$4/share vs. the current share price of ~$1.86/share.”

According to TipRanks.com, Shen is ranked 0 out of 5 stars with an average return of -15.5% and a 27.2% success rate. Shen covers the Technology sector, focusing on stocks such as SolarEdge Technologies, Maxwell Technologies, and Orion Energy Systems.

Currently, the analyst consensus on Sky Solar is Moderate Buy and the average price target is $6.50, representing a 249.5% upside.

In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $5 price target.

The company has a one year high of $5.40 and a one year low of $1.50. Currently, Sky Solar has an average volume of 51.73K.

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Sky Solar Holdings Ltd. engages in developing and owning solar parks. It operates through the following geographical information: Bulgaria, Canada, Czech, Germany, Greece, Italy, Japan, Spain, and Uruguay. The company was founded by Wei Li Su in 2009 and is headquartered in Hong Kong.