TerraForm Global, Inc. (GLBL) Cut 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 research report released on Thursday morning.
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. “
A number of other research analysts also recently commented on GLBL. BidaskClub raised shares of TerraForm Global from a hold rating to a buy rating in a research report on Saturday, July 8th. ValuEngine cut shares of TerraForm Global from a hold rating to a sell rating in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $5.13.
Shares of TerraForm Global (NASDAQ GLBL) opened at 4.75 on Thursday. TerraForm Global has a one year low of $3.40 and a one year high of $5.10. The stock’s market cap is $536.61 million. The firm has a 50-day moving average of $4.85 and a 200-day moving average of $4.85.
TerraForm Global (NASDAQ:GLBL) last released its quarterly earnings data on Wednesday, August 9th. The energy company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). TerraForm Global had a negative return on equity of 6.15% and a negative net margin of 26.87%. The business had revenue of $62.50 million during the quarter, compared to analysts’ expectations of $66.33 million. During the same period last year, the company earned $0.01 earnings per share. On average, equities research analysts expect that TerraForm Global will post ($0.16) earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd bought a new position in shares of TerraForm Global in the 2nd quarter worth $151,000. Two Sigma Securities LLC lifted its stake in shares of TerraForm Global by 122.7% during 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 last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of TerraForm Global by 101.9% during 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 last quarter. Global X Management Co. LLC lifted its stake in shares of TerraForm Global by 4.2% during the 1st quarter. Global X Management Co. LLC now owns 43,646 shares of the energy company’s stock worth $210,000 after purchasing an additional 1,761 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of TerraForm Global by 130.9% during the 1st quarter. Bank of Montreal Can now owns 44,496 shares of the energy company’s stock worth $214,000 after purchasing an additional 25,228 shares during the last quarter. Institutional investors and hedge funds own 49.78% of the company’s stock.
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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