Zacks Investment Research cut shares of TerraForm Power, Inc. (NASDAQ:TERP) from a buy rating to a strong sell rating in a report issued on Saturday, August 5th.
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 raised shares of TerraForm Power from a hold rating to a buy rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $12.90.
Shares of TerraForm Power (NASDAQ:TERP) traded up 0.53% during midday trading on Friday, hitting $13.18. 264,469 shares of the stock were exchanged. The firm has a 50-day moving average price of $12.57 and a 200-day moving average price of $12.23. TerraForm Power has a 12-month low of $10.99 and a 12-month high of $14.69. The company’s market cap is $1.64 billion.
TerraForm Power (NASDAQ:TERP) last issued its quarterly earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.31) by $0.63. The business 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%. On average, equities analysts predict that TerraForm Power will post ($1.02) EPS for the current year.
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Several large investors have recently added to or reduced their stakes in the stock. Northeast Financial Consultants Inc bought a new stake in TerraForm Power during the first quarter valued at approximately $123,000. BNP Paribas Arbitrage SA increased 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 valued at $129,000 after buying an additional 8,821 shares during the last quarter. SG Americas Securities LLC increased 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 valued at $134,000 after buying an additional 69 shares during the last quarter. Eventide Asset Management LLC bought a new stake in TerraForm Power during the first quarter valued at approximately $136,000. Finally, Verition Fund Management LLC bought a new stake in TerraForm Power during the second quarter valued at approximately $173,000. 81.43% of the stock is owned by institutional investors.
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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