TerraForm Global (GLBL) Downgraded to Hold at Zacks Investment Research

TerraForm Global (NASDAQ:GLBL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other brokerages also recently issued reports on GLBL. BidaskClub upgraded TerraForm Global from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine downgraded TerraForm Global from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. TerraForm Global has an average rating of “Hold” and an average price target of $5.25.

TerraForm Global (NASDAQ:GLBL) traded up $0.23 during trading hours on Wednesday, hitting $4.95. The company had a trading volume of 2,059,572 shares, compared to its average volume of 878,825. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.71. TerraForm Global has a 12 month low of $3.40 and a 12 month high of $5.10.

A number of hedge funds have recently modified their holdings of GLBL. Brookfield Asset Management Inc. purchased a new stake in TerraForm Global during the second quarter valued at approximately $98,657,000. Alpine Associates Management Inc. purchased a new stake in TerraForm Global during the second quarter valued at approximately $23,915,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in TerraForm Global by 82.3% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 2,153,619 shares of the energy company’s stock valued at $10,876,000 after purchasing an additional 972,106 shares during the period. Renaissance Technologies LLC purchased a new stake in TerraForm Global during the first quarter valued at approximately $3,729,000. Finally, Banco BTG Pactual S.A. raised its position in TerraForm Global by 60.5% during the second quarter. Banco BTG Pactual S.A. now owns 1,611,106 shares of the energy company’s stock valued at $8,136,000 after purchasing an additional 607,588 shares during the period. Institutional investors and hedge funds own 49.44% of the company’s stock.

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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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