TerraForm Global Inc. (NASDAQ:GLBL) Receives $6.17 Average Target Price from Brokerages
Shares of TerraForm Global Inc. (NASDAQ:GLBL) have been assigned a consensus recommendation of “Buy” from the eight ratings firms that are covering the company. Five equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.17.
GLBL has been the topic of a number of recent research reports. Avondale Partners upgraded shares of TerraForm Global to a “buy” rating in a research report on Wednesday, June 29th. Goldman Sachs Group Inc. initiated coverage on shares of TerraForm Global in a research report on Thursday, August 25th. They set a “neutral” rating and a $9.00 price target on the stock.
Several hedge funds and other institutional investors have recently modified their holdings of GLBL. Pacad Investment Ltd. purchased a new position in shares of TerraForm Global during the first quarter valued at about $110,000. JPMorgan Chase & Co. purchased a new position in shares of TerraForm Global during the first quarter valued at about $3,697,000. Menta Capital LLC boosted its position in shares of TerraForm Global by 476.8% in the first quarter. Menta Capital LLC now owns 156,521 shares of the company’s stock valued at $373,000 after buying an additional 129,384 shares in the last quarter. Wexford Capital LP purchased a new position in shares of TerraForm Global during the first quarter valued at about $2,380,000. Finally, State Street Corp boosted its position in shares of TerraForm Global by 6.6% in the first quarter. State Street Corp now owns 652,390 shares of the company’s stock valued at $1,555,000 after buying an additional 40,610 shares in the last quarter. Hedge funds and other institutional investors own 54.45% of the company’s stock.
TerraForm Global (NASDAQ:GLBL) opened at 3.96 on Friday. TerraForm Global has a 52-week low of $1.92 and a 52-week high of $8.31. The company’s 50 day moving average is $3.78 and its 200-day moving average is $3.15. The firm’s market cap is $462.17 million.
About TerraForm Global
TerraForm Global, Inc is a holding company. The Company owns interest in TerraForm Global, LLC, a diversified renewable energy company that owns long-term contracted wind, solar and hydro-electric power plants. The Company’s portfolio of projects include Hercules (China), NSM 24 (India), NSM Suryalabh (India), NSM Sitara (India), NSM L’Volta (India), Brakes (India), Raj 5 (India), Focal (India), Bhakrani (India), Gadag (India), Hanumanhatti (India), Boshoff (South Africa), Klipheuwel (South Africa), Koonkoonsies (South Africa), Witkop (South Africa), Soutpan (South Africa), Silverstar Pavilion (Malaysia), Fortune 11 (Malaysia), PP Solar (Thailand), ESPRA (Brazil), El Naranjal (Uruguay), Del Litoral (Uruguay), Alto Cielo (Uruguay) and LAP Portfolio (Peru).
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