TerraForm Global, Inc. (NASDAQ:GLBL) Stock Rating Upgraded by Zacks Investment Research

TerraForm Global, Inc. (NASDAQ:GLBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, September 11th. The firm presently has a $5.75 price target on the energy company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 18.56% from the stock’s previous close.

According to Zacks, “TerraForm Global, Inc. is a diversified renewable energy company. It owns and operates clean energy projects consists of solar, wind and hydro-electric generation assets. The Company’s project resides primarily in China, Brazil, India, South Africa, Honduras, Costa Rica, Nicaragua, Peru, Uruguay, Malaysia and Thailand. TerraForm Global, Inc. is headquartered in Bethesda, Maryland. “

Separately, BidaskClub upgraded shares of TerraForm Global from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.38.

Shares of TerraForm Global (NASDAQ:GLBL) traded down 1.03% during midday trading on Monday, reaching $4.80. The company’s stock had a trading volume of 247,635 shares. TerraForm Global has a 52 week low of $3.40 and a 52 week high of $5.10. The firm’s market capitalization is $542.26 million. The firm’s 50 day moving average is $4.85 and its 200 day moving average is $4.85.

TerraForm Global (NASDAQ:GLBL) last issued its quarterly earnings data on Wednesday, August 9th. The energy company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). TerraForm Global had a negative return on equity of 6.15% and a negative net margin of 26.87%. The company had revenue of $62.50 million for the quarter, compared to analyst estimates of $66.33 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. Equities analysts forecast that TerraForm Global will post ($0.16) EPS for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its holdings in TerraForm Global by 8.3% in the 4th quarter. Teachers Advisors LLC now owns 156,890 shares of the energy company’s stock valued at $620,000 after purchasing an additional 12,000 shares during the period. Bank of Montreal Can boosted its holdings in TerraForm Global by 130.9% in the 1st quarter. Bank of Montreal Can now owns 44,496 shares of the energy company’s stock valued at $214,000 after purchasing an additional 25,228 shares during the period. Nisa Investment Advisors LLC bought a new stake in TerraForm Global in the 1st quarter valued at about $128,000. Bank of New York Mellon Corp boosted its holdings in TerraForm Global by 20.0% in the 1st quarter. Bank of New York Mellon Corp now owns 451,281 shares of the energy company’s stock valued at $2,166,000 after purchasing an additional 75,076 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in TerraForm Global by 101.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 41,600 shares of the energy company’s stock valued at $200,000 after purchasing an additional 21,000 shares during the period. 76.82% of the stock is owned by institutional investors and hedge funds.

TerraForm Global Company Profile

TerraForm Global, Inc is a holding company. The Company is a diversified renewable energy company that owns contracted solar and wind power plants. The Company operates through two segments: Solar Energy and Wind Energy. The segments include the Company’s entire portfolio of power plants. The Company’s portfolio consisted of solar and wind power plants located in Brazil, China, India, Malaysia, South Africa, Thailand and Uruguay with an aggregate net capacity of 916.4 megawatts (MW) as of October 31, 2016.

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