Analysts Set TerraForm Global Inc. (GLBL) PT at $6.17
Shares of TerraForm Global Inc. (NASDAQ:GLBL) have been given an average recommendation of “Buy” by the eight research firms that are covering the company. Five analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.17.
Separately, Goldman Sachs Group Inc. raised shares of TerraForm Global from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $1.50 to $3.25 in a report on Thursday, July 21st.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Think Investments LP purchased a new position in shares of TerraForm Global during the second quarter valued at approximately $25,698,000. York Capital Management Global Advisors LLC bought a new stake in TerraForm Global during the first quarter worth about $16,740,000. Adage Capital Partners GP L.L.C. increased its stake in TerraForm Global by 3.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,809,599 shares of the company’s stock worth $13,827,000 after buying an additional 200,000 shares in the last quarter. Quentec Asset Management LLC increased its stake in TerraForm Global by 45.6% in the second quarter. Quentec Asset Management LLC now owns 5,558,918 shares of the company’s stock worth $18,122,000 after buying an additional 1,741,695 shares in the last quarter. Finally, Appaloosa LP increased its stake in TerraForm Global by 1.3% in the second quarter. Appaloosa LP now owns 3,701,067 shares of the company’s stock worth $12,065,000 after buying an additional 48,687 shares in the last quarter. 54.45% of the stock is owned by hedge funds and other institutional investors.
TerraForm Global (NASDAQ:GLBL) opened at 4.00 on Friday. The firm’s market capitalization is $466.84 million. TerraForm Global has a one year low of $1.92 and a one year high of $7.00. The stock’s 50 day moving average is $3.92 and its 200 day moving average is $3.38.
About TerraForm Global
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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