TerraForm Global, Inc. (NASDAQ:GLBL) Stock Rating Lowered by BidaskClub

TerraForm Global, Inc. (NASDAQ:GLBL) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, August 5th.

Separately, Zacks Investment Research upgraded TerraForm Global from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.00.

TerraForm Global (GLBL) traded up 0.50% on Friday, reaching $5.05. 461,838 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $5.03 and its 200 day moving average is $4.83. The stock’s market capitalization is $570.50 million. TerraForm Global has a 1-year low of $3.25 and a 1-year high of $5.10.

TerraForm Global (NASDAQ:GLBL) last released its quarterly earnings data on Wednesday, August 9th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $62.50 million for the quarter, compared to the consensus estimate of $66.33 million. TerraForm Global had a negative net margin of 26.87% and a negative return on equity of 6.15%. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Analysts expect that TerraForm Global will post ($0.16) EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. Alpine Associates Management Inc. purchased a new stake in TerraForm Global during the second quarter worth about $23,915,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in TerraForm Global by 82.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 2,153,619 shares of the energy company’s stock worth $10,876,000 after buying an additional 972,106 shares in the last quarter. Banco BTG Pactual S.A. boosted its stake in TerraForm Global by 60.5% in the second quarter. Banco BTG Pactual S.A. now owns 1,611,106 shares of the energy company’s stock worth $8,136,000 after buying an additional 607,588 shares in the last quarter. State Street Corp boosted its stake in shares of TerraForm Global by 4.1% in the second quarter. State Street Corp now owns 1,581,761 shares of the energy company’s stock worth $7,988,000 after buying an additional 61,755 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of TerraForm Global by 19.8% in the second quarter. OMERS ADMINISTRATION Corp now owns 1,482,700 shares of the energy company’s stock worth $7,488,000 after buying an additional 244,700 shares during the period. Institutional investors and hedge funds own 60.01% 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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