TerraForm Power, Inc. (NASDAQ:TERP) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Monday, July 31st.
Separately, Zacks Investment Research lowered TerraForm Power from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $12.90.
Shares of TerraForm Power (NASDAQ:TERP) traded up 0.53% during midday trading on Monday, reaching $13.18. 264,469 shares of the company’s stock traded hands. The company’s market capitalization is $1.64 billion. The company has a 50-day moving average of $12.60 and a 200-day moving average of $12.24. TerraForm Power has a one year low of $10.99 and a one year high of $14.69.
TerraForm Power (NASDAQ:TERP) last released its quarterly earnings results on Friday, July 21st. The solar energy provider reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.31) by $0.63. The firm had revenue of $135.22 million for the quarter. TerraForm Power had a negative return on equity of 4.59% and a negative net margin of 19.84%. Equities research analysts anticipate that TerraForm Power will post ($1.02) EPS for the current year.
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Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in TerraForm Power by 4.8% in the fourth quarter. State Street Corp now owns 1,558,243 shares of the solar energy provider’s stock worth $19,959,000 after buying an additional 71,204 shares during the period. Teachers Advisors LLC increased its stake in TerraForm Power by 7.4% in the fourth quarter. Teachers Advisors LLC now owns 151,572 shares of the solar energy provider’s stock worth $1,942,000 after buying an additional 10,476 shares during the period. Russell Investments Group Ltd. acquired a new stake in TerraForm Power during the first quarter worth $400,000. Rubric Capital Management LP acquired a new stake in TerraForm Power during the first quarter worth $5,009,000. Finally, Northeast Financial Consultants Inc acquired a new stake in TerraForm Power during the first quarter worth $123,000. Hedge funds and other institutional investors own 81.43% of the company’s stock.
About TerraForm Power
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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