TerraForm Global, Inc. (NASDAQ:GLBL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “TerraForm Global, Inc. is a diversified renewable energy company. It owns and operates clean energy projects consists of solar, wind and hydro-electric generation assets. The Company’s project resides primarily in China, Brazil, India, South Africa, Honduras, Costa Rica, Nicaragua, Peru, Uruguay, Malaysia and Thailand. TerraForm Global, Inc. is headquartered in Bethesda, Maryland. “

A number of other analysts also recently weighed in on the company. BidaskClub upgraded TerraForm Global from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. ValuEngine downgraded TerraForm Global from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. TerraForm Global has a consensus rating of “Hold” and an average target price of $5.38.

Shares of TerraForm Global (GLBL) traded up 2.06% during midday trading on Thursday, hitting $4.95. The company had a trading volume of 449,800 shares. The stock’s market capitalization is $559.20 million. TerraForm Global has a one year low of $3.38 and a one year high of $5.10. The stock’s 50-day moving average price is $4.91 and its 200-day moving average price is $4.58.

TerraForm Global (NASDAQ:GLBL) last posted its quarterly earnings data on Wednesday, August 9th. The energy company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $62.50 million during the quarter, compared to analyst estimates of $66.33 million. TerraForm Global had a negative net margin of 26.87% and a negative return on equity of 6.15%. During the same quarter in the previous year, the company earned $0.01 earnings per share. Analysts predict that TerraForm Global will post ($0.16) EPS for the current year.

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A number of institutional investors have recently modified their holdings of GLBL. Nisa Investment Advisors LLC acquired a new stake in TerraForm Global during the 1st quarter worth about $128,000. BlueCrest Capital Management Ltd acquired a new stake in TerraForm Global during the 2nd quarter worth about $151,000. TFS Capital LLC acquired a new stake in TerraForm Global during the 1st quarter worth about $179,000. Two Sigma Securities LLC grew its holdings in TerraForm Global by 122.7% during the 1st quarter. Two Sigma Securities LLC now owns 38,656 shares of the energy company’s stock worth $186,000 after acquiring an additional 21,295 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in TerraForm Global by 101.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 41,600 shares of the energy company’s stock worth $200,000 after acquiring an additional 21,000 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

TerraForm Global Company Profile

TerraForm Global, Inc is a holding company. The Company is a diversified renewable energy company that owns contracted solar and wind power plants. The Company operates through two segments: Solar Energy and Wind Energy. The segments include the Company’s entire portfolio of power plants. The Company’s portfolio consisted of solar and wind power plants located in Brazil, China, India, Malaysia, South Africa, Thailand and Uruguay with an aggregate net capacity of 916.4 megawatts (MW) as of October 31, 2016.

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