Zacks Investment Research cut shares of TerraForm Power, Inc. (NASDAQ:TERP) from a hold rating to a sell rating in a report issued on Thursday, July 13th.

According to Zacks, “TerraForm Power, Inc. is global renewable energy company. It operates clean power generation assets such as solar, wind, natural gas, geothermal and hydro-electricity. The Company owns and operates solar generation assets serving utility, commercial, and residential customers. TerraForm Power, Inc. is based in Beltsville, Maryland. “

Separately, BidaskClub upgraded shares of TerraForm Power from a sell rating to a hold rating in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $12.90.

Shares of TerraForm Power (NASDAQ TERP) traded down 0.69% during midday trading on Thursday, reaching $13.00. 132,176 shares of the company were exchanged. The stock’s 50-day moving average price is $12.24 and its 200-day moving average price is $12.15. TerraForm Power has a 52-week low of $10.99 and a 52-week high of $14.69. The company’s market capitalization is $1.62 billion.

TerraForm Power (NASDAQ:TERP) last released its earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.63. TerraForm Power had a negative net margin of 19.84% and a negative return on equity of 4.59%. The business had revenue of $135.22 million for the quarter. Analysts anticipate that TerraForm Power will post ($1.02) EPS for the current year.

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Several hedge funds have recently made changes to their positions in the stock. Northeast Financial Consultants Inc purchased a new stake in shares of TerraForm Power during the first quarter worth $123,000. BNP Paribas Arbitrage SA boosted its stake in TerraForm Power by 450.5% in the second quarter. BNP Paribas Arbitrage SA now owns 10,779 shares of the solar energy provider’s stock worth $129,000 after buying an additional 8,821 shares during the last quarter. SG Americas Securities LLC boosted its stake in TerraForm Power by 0.6% in the first quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock worth $134,000 after buying an additional 69 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in TerraForm Power during the first quarter worth about $136,000. Finally, Becker Capital Management Inc. acquired a new stake in TerraForm Power during the fourth quarter worth about $148,000. Institutional investors and hedge funds own 81.88% of the company’s stock.

TerraForm Power Company Profile

TerraForm Power, Inc is a United States-based holding company. The Company owns clean power generation assets. This includes solar and wind assets located in the United States, Canada and other markets. Its clean power generation assets serve utility, commercial and residential customers. As of December 31, 2016, the Company’s portfolio consisted of renewable energy facilities located in the United States, Canada, the United Kingdom and Chile with a combined nameplate capacity of 2,983.1 megawatts.

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