TerraForm Global (GLBL) Cut to Strong Sell at BidaskClub

BidaskClub downgraded shares of TerraForm Global (NASDAQ:GLBL) from a sell rating to a strong sell rating in a research report report published on Tuesday morning.

Several other analysts also recently weighed in on GLBL. Zacks Investment Research upgraded TerraForm Global from a hold rating to a buy rating and set a $5.75 target price for the company in a research note on Monday, September 11th. ValuEngine downgraded TerraForm Global from a hold rating to a sell rating in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $5.25.

Shares of TerraForm Global (NASDAQ GLBL) traded up $0.10 during trading on Tuesday, hitting $5.05. The stock had a trading volume of 4,652,100 shares, compared to its average volume of 894,814. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.74 and a quick ratio of 1.74. TerraForm Global has a 12 month low of $3.40 and a 12 month high of $5.10.

Several institutional investors have recently made changes to their positions in the company. Brookfield Asset Management Inc. acquired a new stake in shares of TerraForm Global during the second quarter valued at about $98,657,000. Alpine Associates Management Inc. acquired a new stake in shares of TerraForm Global during the second quarter valued at about $23,915,000. Bamco Inc. NY lifted its position in shares of TerraForm Global by 8.4% during the third quarter. Bamco Inc. NY now owns 2,444,797 shares of the energy company’s stock worth $11,613,000 after purchasing an additional 189,466 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of TerraForm Global by 9.2% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 2,350,819 shares of the energy company’s stock worth $11,166,000 after purchasing an additional 197,200 shares during the last quarter. Finally, Banco BTG Pactual S.A. lifted its position in shares of TerraForm Global by 60.5% during the second quarter. Banco BTG Pactual S.A. now owns 1,611,106 shares of the energy company’s stock worth $8,136,000 after purchasing an additional 607,588 shares during the last quarter. Institutional investors own 49.44% of the company’s stock.

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About TerraForm Global

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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