TerraForm Global, Inc. (NASDAQ:GLBL) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of TerraForm Global, Inc. (NASDAQ:GLBL) from a buy rating to a hold rating in a research note published on Thursday, September 14th.

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. “

GLBL has been the topic of several other research reports. BidaskClub raised TerraForm Global from a hold rating to a buy rating in a research note on Saturday, July 8th. ValuEngine downgraded TerraForm Global from a hold rating to a sell rating in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $5.38.

TerraForm Global (NASDAQ GLBL) traded down 1.03% during midday trading on Thursday, reaching $4.80. 313,516 shares of the company were exchanged. The firm’s 50 day moving average price is $4.85 and its 200-day moving average price is $4.85. TerraForm Global has a 52 week low of $3.40 and a 52 week high of $5.10. The stock’s market capitalization is $542.26 million.

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

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake 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 worth $384,000 after acquiring an additional 219 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of TerraForm Global by 0.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 230,197 shares of the energy company’s stock worth $1,163,000 after purchasing an additional 969 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of TerraForm Global by 1.6% during the 2nd quarter. Wells Fargo & Company MN now owns 67,542 shares of the energy company’s stock worth $341,000 after purchasing an additional 1,041 shares during the last quarter. Global X Management Co. LLC lifted its position in shares of TerraForm Global by 4.2% during the 1st quarter. Global X Management Co. LLC now owns 43,646 shares of the energy company’s stock worth $210,000 after purchasing an additional 1,761 shares during the last quarter. Finally, Spark Investment Management LLC lifted its position in shares of TerraForm Global by 0.8% during the 1st quarter. Spark Investment Management LLC now owns 310,500 shares of the energy company’s stock worth $1,490,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 76.82% of the company’s stock.

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.

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