TerraForm Global, Inc. (GLBL) Rating Increased to Buy at BidaskClub

TerraForm Global, Inc. (NASDAQ:GLBL) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Zacks Investment Research lowered shares of TerraForm Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. TerraForm Global presently has a consensus rating of “Hold” and an average price target of $7.00.

TerraForm Global (GLBL) opened at 5.05 on Tuesday. TerraForm Global has a 52-week low of $3.25 and a 52-week high of $5.10. The company’s 50 day moving average is $5.03 and its 200 day moving average is $4.84. The firm’s market cap is $570.50 million.

TerraForm Global (NASDAQ:GLBL) last announced its earnings results on Wednesday, August 9th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.01. The company had revenue of $62.50 million during 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 company earned $0.01 EPS. Equities research analysts forecast that TerraForm Global will post ($0.16) EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of GLBL. Alpine Associates Management Inc. purchased a new stake in TerraForm Global during the second quarter worth approximately $23,915,000. GABELLI & Co INVESTMENT ADVISERS INC. raised 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. raised 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 raised its stake in 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 in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in 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 in the last quarter. 60.01% of the stock is owned by institutional investors.

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.