TerraForm Global, Inc. (NASDAQ:GLBL) shares were down 6.4% during trading on Tuesday . The stock traded as low as $4.70 and last traded at $4.78. Approximately 2,497,869 shares changed hands during trading, an increase of 303% from the average daily volume of 620,534 shares. The stock had previously closed at $5.10.
Several research analysts have commented on GLBL shares. Zacks Investment Research downgraded shares of TerraForm Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. BidaskClub raised shares of TerraForm Global from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th.
The firm’s market cap is $539.43 million. The company has a 50-day moving average of $5.10 and a 200-day moving average of $4.45.
TerraForm Global (NASDAQ:GLBL) last released its quarterly earnings results on Wednesday, August 9th. The energy company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). TerraForm Global had a negative net margin of 26.87% and a negative return on equity of 6.15%. The company had revenue of $62.50 million for the quarter, compared to analysts’ expectations of $66.33 million. During the same quarter in the previous year, the company posted $0.01 EPS. On average, analysts predict that TerraForm Global, Inc. will post ($0.16) EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Brookfield Asset Management Inc. purchased a new stake in TerraForm Global during the 2nd quarter valued at $98,657,000. Banco BTG Pactual S.A. raised its holdings in TerraForm Global by 60.5% during the 2nd quarter. Banco BTG Pactual S.A. now owns 1,611,106 shares of the energy company’s stock valued at $8,136,000 after buying an additional 607,588 shares during the period. The Manufacturers Life Insurance Company raised its holdings in TerraForm Global by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 76,166 shares of the energy company’s stock valued at $384,000 after buying an additional 219 shares during the period. Sather Financial Group Inc purchased a new stake in TerraForm Global during the 2nd quarter valued at $510,000. Finally, Alpine Global Management LLC purchased a new stake in TerraForm Global during the 2nd quarter valued at $253,000. Institutional investors own 76.82% of the company’s stock.
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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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