TerraForm Power Inc. (TERP) Shares Up 3.6%
TerraForm Power Inc. (NASDAQ:TERP) shot up 3.6% during mid-day trading on Wednesday . The company traded as high as $11.52 and last traded at $11.36, with a volume of 1,060,341 shares trading hands. The stock had previously closed at $10.97.
A number of brokerages recently issued reports on TERP. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $10.00 target price on shares of TerraForm Power in a research report on Monday, May 2nd. Bank of America Corp. reissued a “hold” rating and issued a $11.00 target price on shares of TerraForm Power in a research report on Tuesday, April 26th. Zacks Investment Research lowered TerraForm Power from a “hold” rating to a “strong sell” rating in a research report on Friday, April 15th. Robert W. Baird reissued a “neutral” rating on shares of TerraForm Power in a research report on Thursday, April 7th. Finally, Avondale Partners raised TerraForm Power from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research report on Wednesday, June 29th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. TerraForm Power presently has a consensus rating of “Buy” and a consensus price target of $19.91.
The firm’s market capitalization is $1.50 billion. The company has a 50-day moving average of $8.98 and a 200 day moving average of $9.51.
In related news, major shareholder Montenvers Master Bluemountain sold 192,144 shares of the company’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $8.78, for a total transaction of $1,687,024.32. Following the sale, the insider now owns 6,471,200 shares in the company, valued at approximately $56,817,136. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
A number of hedge funds and institutional investors have recently made changes to their positions in the company. Swiss National Bank raised its position in shares of TerraForm Power by 7.5% in the fourth quarter. Swiss National Bank now owns 86,900 shares of the company’s stock valued at $1,093,000 after buying an additional 6,100 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of TerraForm Power by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 110,010 shares of the company’s stock valued at $1,384,000 after buying an additional 1,728 shares during the period. First Trust Advisors LP increased its stake in shares of TerraForm Power by 91.6% in the fourth quarter. First Trust Advisors LP now owns 152,452 shares of the company’s stock valued at $1,918,000 after buying an additional 72,867 shares during the period. Finally, Alpine Woods Capital Investors LLC bought a new stake in shares of TerraForm Power during the fourth quarter valued at approximately $4,629,000.
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