TerraForm Global Inc. (NASDAQ:GLBL) Given Consensus Rating of “Buy” by Analysts
Shares of TerraForm Global Inc. (NASDAQ:GLBL) have been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm. Five research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $6.17.
A number of research analysts recently issued reports on GLBL shares. Goldman Sachs Group Inc. started coverage on TerraForm Global in a report on Thursday, August 25th. They set a “neutral” rating and a $9.00 price objective for the company. Avondale Partners upgraded TerraForm Global to a “buy” rating in a report on Wednesday, June 29th.
A number of hedge funds and other institutional investors have recently bought and sold shares of GLBL. Think Investments LP bought a new position in TerraForm Global during the second quarter worth $25,698,000. York Capital Management Global Advisors LLC acquired a new stake in TerraForm Global during the first quarter worth about $16,740,000. Quentec Asset Management LLC boosted its stake in TerraForm Global by 105.3% in the first quarter. Quentec Asset Management LLC now owns 3,817,223 shares of the company’s stock worth $9,085,000 after buying an additional 1,957,507 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in TerraForm Global during the first quarter worth about $3,697,000. Finally, BlackRock Fund Advisors boosted its stake in TerraForm Global by 119.3% in the second quarter. BlackRock Fund Advisors now owns 2,475,295 shares of the company’s stock worth $8,069,000 after buying an additional 1,346,823 shares during the last quarter. Hedge funds and other institutional investors own 54.45% of the company’s stock.
Shares of TerraForm Global (NASDAQ:GLBL) traded down 5.02% during midday trading on Friday, reaching $3.97. 255,232 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $3.77 and its 200 day moving average price is $3.15. TerraForm Global has a 52-week low of $1.92 and a 52-week high of $8.36. The firm’s market capitalization is $463.34 million.
TerraForm Global Company Profile
TerraForm Global, Inc is a holding company. The Company owns interest in TerraForm Global, LLC, a diversified renewable energy company that owns long-term contracted wind, solar and hydro-electric power plants. The Company’s portfolio of projects include Hercules (China), NSM 24 (India), NSM Suryalabh (India), NSM Sitara (India), NSM L’Volta (India), Brakes (India), Raj 5 (India), Focal (India), Bhakrani (India), Gadag (India), Hanumanhatti (India), Boshoff (South Africa), Klipheuwel (South Africa), Koonkoonsies (South Africa), Witkop (South Africa), Soutpan (South Africa), Silverstar Pavilion (Malaysia), Fortune 11 (Malaysia), PP Solar (Thailand), ESPRA (Brazil), El Naranjal (Uruguay), Del Litoral (Uruguay), Alto Cielo (Uruguay) and LAP Portfolio (Peru).
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