TerraForm Global (GLBL) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of TerraForm Global (NASDAQ:GLBL) from a hold rating to a buy rating in a report issued on Tuesday, November 14th. They currently have $5.25 price objective on the energy company’s stock.

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. “

Other research analysts have also recently issued reports about the company. BidaskClub raised TerraForm Global from a hold rating to a buy rating in a report on Tuesday, August 22nd. ValuEngine cut TerraForm Global from a hold rating to a sell rating in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. TerraForm Global currently has an average rating of Hold and an average target price of $5.25.

Shares of TerraForm Global (NASDAQ:GLBL) opened at $4.65 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.71. TerraForm Global has a 52 week low of $3.40 and a 52 week high of $5.10.

Several institutional investors and hedge funds have recently modified their holdings of GLBL. Bank of New York Mellon Corp raised its holdings in shares of TerraForm Global by 20.0% during the 1st quarter. Bank of New York Mellon Corp now owns 451,281 shares of the energy company’s stock worth $2,166,000 after acquiring an additional 75,076 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of 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 in the last quarter. American International Group Inc. raised its holdings in shares of TerraForm Global by 7.1% during the 1st quarter. American International Group Inc. now owns 56,267 shares of the energy company’s stock worth $270,000 after acquiring an additional 3,715 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of TerraForm Global by 30.1% during the 1st quarter. Vanguard Group Inc. now owns 1,465,967 shares of the energy company’s stock worth $7,037,000 after acquiring an additional 338,994 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of TerraForm Global by 5.6% during the 1st quarter. Geode Capital Management LLC now owns 514,641 shares of the energy company’s stock worth $2,470,000 after acquiring an additional 27,478 shares in the last quarter. 49.47% of the stock is currently owned by institutional investors and hedge funds.

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About TerraForm Global

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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