Shares of TerraForm Power Inc. (NASDAQ:TERP) gapped up before the market opened on Monday . The stock had previously closed at $12.40, but opened at $12.50. TerraForm Power shares last traded at $13.08, with a volume of 2,165,924 shares traded.

A number of brokerages recently weighed in on TERP. JPMorgan Chase & Co. cut shares of TerraForm Power from an “overweight” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Wednesday, March 30th. Robert W. Baird reiterated a “neutral” rating on shares of TerraForm Power in a research note on Thursday, April 7th. Bank of America Corp. reiterated a “hold” rating and set a $11.00 price target on shares of TerraForm Power in a research note on Tuesday, April 26th. Zacks Investment Research upgraded shares of TerraForm Power from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 16th. Finally, Avondale Partners upgraded shares of TerraForm Power from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research note on Wednesday, June 29th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. TerraForm Power presently has an average rating of “Hold” and a consensus price target of $17.90.

The company’s market capitalization is $1.62 billion. The stock’s 50-day moving average price is $10.20 and its 200 day moving average price is $9.54.

In other TerraForm Power news, major shareholder Montenvers Master Bluemountain sold 192,144 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $8.78, for a total value of $1,687,024.32. Following the transaction, the insider now owns 6,471,200 shares in the company, valued at $56,817,136. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A number of hedge funds and institutional investors have recently made changes to their positions in TERP. Kayne Anderson Capital Advisors LP raised its position in shares of TerraForm Power by 4.9% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 487,800 shares of the company’s stock valued at $6,132,000 after buying an additional 23,000 shares during the last quarter. Alpine Woods Capital Investors LLC purchased a new position in shares of TerraForm Power during the fourth quarter valued at about $4,629,000. First Trust Advisors LP raised its position 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 last quarter. California State Teachers Retirement System raised its position in TerraForm Power by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 110,010 shares of the company’s stock worth $1,384,000 after buying an additional 1,728 shares in the last quarter. Finally, Swiss National Bank raised its position in TerraForm Power by 7.5% in the fourth quarter. Swiss National Bank now owns 86,900 shares of the company’s stock worth $1,093,000 after buying an additional 6,100 shares in the last quarter.

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