TerraForm Global Inc. (GLBL) Shares Up 9.5%
Shares of TerraForm Global Inc. (NASDAQ:GLBL) shot up 9.5% during mid-day trading on Wednesday . The stock traded as high as $3.70 and last traded at $3.56, with a volume of 2,942,531 shares traded. The stock had previously closed at $3.25.
GLBL has been the subject of several recent research reports. Zacks Investment Research upgraded TerraForm Global from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Goldman Sachs Group Inc. reiterated a “sell” rating and issued a $1.50 price objective on shares of TerraForm Global in a research report on Monday, May 2nd. Deutsche Bank AG reiterated a “hold” rating on shares of TerraForm Global in a research report on Thursday, March 31st. Finally, Avondale Partners upgraded TerraForm Global to a “buy” rating in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.98.
The company’s 50-day moving average price is $2.98 and its 200 day moving average price is $3.11. The firm’s market capitalization is $413.15 million.
A hedge fund recently bought a new stake in TerraForm Global stock. Teacher Retirement System of Texas bought a new position in shares of TerraForm Global Inc. (NASDAQ:GLBL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 474,485 shares of the company’s stock, valued at approximately $2,652,000. Teacher Retirement System of Texas owned about 0.41% of TerraForm Global as of its most recent SEC filing.
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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