TerraForm Global Inc. (GLBL) Shares Up 9.5%
TerraForm Global Inc. (NASDAQ:GLBL)’s share price shot up 9.5% during 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 trading hands. The stock had previously closed at $3.25.
Several brokerages have recently commented on GLBL. Zacks Investment Research upgraded TerraForm Global from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Goldman Sachs Group Inc. restated a “sell” rating and set a $1.50 price target on shares of TerraForm Global in a research note on Monday, May 2nd. Deutsche Bank AG restated a “hold” rating on shares of TerraForm Global in a research note on Thursday, March 31st. Finally, Avondale Partners upgraded TerraForm Global to a “buy” rating in a research note on Wednesday, June 29th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. TerraForm Global presently has a consensus rating of “Buy” and a consensus target price of $7.98.
The firm’s market cap is $413.15 million. The company’s 50-day moving average price is $3.03 and its 200-day moving average price is $3.12.
An institutional investor recently bought a new position in TerraForm Global stock. Ecofin Ltd. acquired a new stake in TerraForm Global Inc. (NASDAQ:GLBL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 253,760 shares of the company’s stock, valued at approximately $1,419,000. Ecofin Ltd. owned 0.22% of TerraForm Global as of its most recent filing with the SEC.
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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