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

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. “

Several other analysts also recently weighed in on GLBL. BidaskClub downgraded TerraForm Global from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. ValuEngine downgraded TerraForm Global from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $5.13.

TerraForm Global (NASDAQ GLBL) opened at 4.85 on Monday. TerraForm Global has a 12-month low of $3.40 and a 12-month high of $5.10. The company’s market cap is $547.90 million. The firm’s 50-day moving average is $4.83 and its 200 day moving average is $4.83.

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

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Several institutional investors have recently made changes to their positions in GLBL. Brookfield Asset Management Inc. bought a new position in shares of TerraForm Global during the second quarter valued at approximately $98,657,000. Alpine Associates Management Inc. bought a new position in shares of TerraForm Global during the second quarter valued at approximately $23,915,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of TerraForm Global by 82.3% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 2,153,619 shares of the energy company’s stock valued at $10,876,000 after acquiring an additional 972,106 shares in the last quarter. Mizuho Securities USA LLC bought a new position in shares of TerraForm Global during the second quarter valued at approximately $4,001,000. Finally, Renaissance Technologies LLC bought a new position in shares of TerraForm Global during the first quarter valued at approximately $3,729,000. Institutional investors own 49.78% 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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