TerraForm Global, Inc. (GLBL) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of TerraForm Global, Inc. (NASDAQ:GLBL) from a buy rating to a hold rating in a report published on Thursday.

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. “

GLBL has been the subject of a number of other research reports. BidaskClub cut TerraForm Global from a buy rating to a hold rating in a report on Saturday, August 5th. ValuEngine cut TerraForm Global from a hold rating to a sell rating in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. TerraForm Global presently has a consensus rating of Hold and an average price target of $5.38.

TerraForm Global (NASDAQ:GLBL) opened at 4.75 on Thursday. TerraForm Global has a 1-year low of $3.38 and a 1-year high of $5.10. The company has a 50 day moving average of $4.88 and a 200 day moving average of $4.62. The firm’s market capitalization is $536.61 million.

TerraForm Global (NASDAQ:GLBL) last announced its earnings results on Wednesday, August 9th. The energy company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $62.50 million during the quarter, compared to analysts’ expectations of $66.33 million. TerraForm Global had a negative return on equity of 6.15% and a negative net margin of 26.87%. During the same quarter last year, the firm posted $0.01 EPS. On average, equities research analysts anticipate that TerraForm Global will post ($0.16) earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in shares of TerraForm Global in the 1st quarter worth approximately $128,000. BlueCrest Capital Management Ltd purchased a new position in shares of TerraForm Global in the 2nd quarter worth approximately $151,000. TFS Capital LLC purchased a new position in shares of TerraForm Global in the 1st quarter worth approximately $179,000. Two Sigma Securities LLC boosted its holdings in shares of TerraForm Global by 122.7% in the 1st quarter. Two Sigma Securities LLC now owns 38,656 shares of the energy company’s stock worth $186,000 after purchasing an additional 21,295 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of 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 worth $200,000 after purchasing an additional 21,000 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

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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