TerraForm Global, Inc. (GLBL) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of TerraForm Global, Inc. (NASDAQ:GLBL) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $5.25 price target on the energy company’s stock.

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 subject of a number of other reports. BidaskClub lowered shares of TerraForm Global from a buy rating to a hold rating in a research note on Saturday, August 5th. ValuEngine lowered shares of TerraForm Global from a hold rating to a sell rating in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $5.13.

TerraForm Global (GLBL) remained flat at $$4.70 during trading hours on Tuesday. The stock had a trading volume of 2,148,900 shares, compared to its average volume of 857,177. TerraForm Global has a fifty-two week low of $3.40 and a fifty-two week high of $5.10. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.71.

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Several hedge funds have recently added to or reduced their stakes in GLBL. State Board of Administration of Florida Retirement System lifted its position in shares of TerraForm Global by 87.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 27,240 shares of the energy company’s stock valued at $129,000 after buying an additional 12,670 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of TerraForm Global during the second quarter valued at about $151,000. UBS Asset Management Americas Inc. lifted its position in shares of TerraForm Global by 101.9% during the first quarter. UBS Asset Management Americas Inc. now owns 41,600 shares of the energy company’s stock valued at $200,000 after buying an additional 21,000 shares during the last quarter. Paloma Partners Management Co lifted its position in shares of TerraForm Global by 6.9% during the first quarter. Paloma Partners Management Co now owns 49,600 shares of the energy company’s stock valued at $238,000 after buying an additional 3,185 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of TerraForm Global by 13.5% during the second quarter. Voya Investment Management LLC now owns 47,874 shares of the energy company’s stock valued at $242,000 after buying an additional 5,705 shares during the last quarter. 49.66% of the stock is owned by institutional investors and hedge funds.

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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