TerraForm Global Inc. (NASDAQ:GLBL) shares were down 2.9% during trading on Wednesday . The stock traded as low as $3.67 and last traded at $3.67, with a volume of 345,840 shares traded. The stock had previously closed at $3.78.
A number of research analysts have recently issued reports on GLBL shares. Goldman Sachs Group Inc. started coverage on TerraForm Global in a report on Thursday, August 25th. They issued a “neutral” rating and a $9.00 target price on the stock. Avondale Partners raised TerraForm Global to a “buy” rating in a report on Wednesday, June 29th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $6.84.
The firm’s market cap is $432.99 million. The firm has a 50-day moving average price of $3.57 and a 200 day moving average price of $3.09.
Hedge funds have recently modified their holdings of the company. Think Investments LP acquired a new stake in shares of TerraForm Global during the second quarter valued at approximately $25,698,000. York Capital Management Global Advisors LLC acquired a new stake in shares of TerraForm Global during the first quarter valued at approximately $16,740,000. Quentec Asset Management LLC boosted its stake in shares of TerraForm Global by 105.3% in the first quarter. Quentec Asset Management LLC now owns 3,817,223 shares of the company’s stock valued at $9,085,000 after buying an additional 1,957,507 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of TerraForm Global during the first quarter valued at approximately $3,697,000. Finally, BlackRock Fund Advisors boosted its stake in shares of TerraForm Global by 119.3% in the second quarter. BlackRock Fund Advisors now owns 2,475,295 shares of the company’s stock valued at $8,069,000 after buying an additional 1,346,823 shares during the period. 54.45% of the stock is owned by institutional investors and hedge funds.
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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