JPMorgan Chase & Co. lowered its stake in TerraForm Global Inc. (NASDAQ:GLBL) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,510,973 shares of the company’s stock after selling 42,527 shares during the period. JPMorgan Chase & Co. owned about 1.29% of TerraForm Global worth $4,926,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of GLBL. Geode Capital Management LLC raised its stake in shares of TerraForm Global by 8.2% in the first quarter. Geode Capital Management LLC now owns 394,315 shares of the company’s stock valued at $938,000 after buying an additional 29,996 shares in the last quarter. State Street Corp raised its stake 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. California Public Employees Retirement System raised its stake in shares of TerraForm Global by 38.6% in the second quarter. California Public Employees Retirement System now owns 146,800 shares of the company’s stock valued at $479,000 after buying an additional 40,900 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of TerraForm Global during the first quarter valued at about $110,000. Finally, Swiss National Bank raised its stake in shares of TerraForm Global by 51.5% in the second quarter. Swiss National Bank now owns 137,032 shares of the company’s stock valued at $447,000 after buying an additional 46,600 shares in the last quarter. 54.45% of the stock is owned by institutional investors.
TerraForm Global Inc. (NASDAQ:GLBL) traded up 3.27% during mid-day trading on Friday, hitting $3.79. The stock had a trading volume of 79,497 shares. TerraForm Global Inc. has a 12 month low of $1.92 and a 12 month high of $8.24. The stock’s 50-day moving average price is $3.82 and its 200-day moving average price is $3.18. The stock’s market cap is $442.33 million.
Several brokerages have issued reports on GLBL. Goldman Sachs Group Inc. raised TerraForm Global from a “sell” rating to a “neutral” rating and upped their target price for the stock from $1.50 to $3.25 in a research note on Thursday, July 21st. Avondale Partners raised TerraForm Global to a “buy” rating in a research note on Wednesday, June 29th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $5.54.
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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