TerraForm Global, Inc. (NASDAQ:GLBL) was the recipient of a significant decline in short interest in October. As of October 13th, there was short interest totalling 592,006 shares, a decline of 42.0% from the September 29th total of 1,020,623 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 440,130 shares, the days-to-cover ratio is presently 1.3 days.
A number of analysts recently weighed in on GLBL shares. BidaskClub upgraded TerraForm Global from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research upgraded TerraForm Global from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research note on Monday, September 11th. Finally, ValuEngine downgraded 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, two have assigned a hold rating and two have issued a buy rating to the company. TerraForm Global has an average rating of “Hold” and an average target price of $5.13.
TerraForm Global (NASDAQ:GLBL) last posted 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). TerraForm Global had a negative net margin of 26.87% and a negative return on equity of 6.15%. The business had revenue of $62.50 million during the quarter, compared to analyst estimates of $66.33 million. During the same quarter in the prior year, the business earned $0.01 earnings per share.
Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its position in TerraForm Global by 87.0% in the 3rd 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 acquiring an additional 12,670 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in TerraForm Global in the 2nd quarter valued at approximately $151,000. Two Sigma Securities LLC increased its position in TerraForm Global by 122.7% in the 1st quarter. Two Sigma Securities LLC now owns 38,656 shares of the energy company’s stock valued at $186,000 after acquiring an additional 21,295 shares during the period. UBS Asset Management Americas Inc. increased its position in TerraForm Global by 101.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 41,600 shares of the energy company’s stock valued at $200,000 after acquiring an additional 21,000 shares during the period. Finally, Paloma Partners Management Co increased its position in TerraForm Global by 6.9% in the 1st quarter. Paloma Partners Management Co now owns 49,600 shares of the energy company’s stock valued at $238,000 after acquiring an additional 3,185 shares during the period. Hedge funds and other institutional investors own 49.21% 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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