TerraForm Global, Inc. (NASDAQ:GLBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $5.25 price target on the energy company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.70% from the company’s previous close.

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 equities research analysts have also issued reports on GLBL. BidaskClub lowered shares of TerraForm Global from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. ValuEngine lowered shares of TerraForm Global from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $5.13.

Shares of TerraForm Global (GLBL) traded down $0.05 during trading hours on Tuesday, hitting $4.70. 568,800 shares of the company’s stock were exchanged, compared to its average volume of 851,279. TerraForm Global has a 52 week low of $3.40 and a 52 week high of $5.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.74 and a quick ratio of 1.74.

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Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of TerraForm Global by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 76,166 shares of the energy company’s stock valued at $384,000 after purchasing an additional 219 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in TerraForm Global by 0.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 230,197 shares of the energy company’s stock worth $1,163,000 after acquiring an additional 969 shares during the period. Wells Fargo & Company MN raised its holdings in TerraForm Global by 1.6% in the 2nd quarter. Wells Fargo & Company MN now owns 67,542 shares of the energy company’s stock worth $341,000 after acquiring an additional 1,041 shares during the period. Paloma Partners Management Co raised its holdings in TerraForm Global by 6.9% in the 1st quarter. Paloma Partners Management Co now owns 49,600 shares of the energy company’s stock worth $238,000 after acquiring an additional 3,185 shares during the period. Finally, American International Group Inc. raised its holdings in TerraForm Global by 7.1% in the 1st quarter. American International Group Inc. now owns 56,267 shares of the energy company’s stock worth $270,000 after acquiring an additional 3,715 shares during the period. Institutional investors and hedge funds own 49.66% of the company’s stock.

TerraForm Global Company Profile

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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