TerraForm Global, Inc. (NASDAQ:GLBL) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 873,985 shares, a growth of 33.1% from the August 15th total of 656,504 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 266,377 shares, the days-to-cover ratio is currently 3.3 days.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brookfield Asset Management Inc. purchased a new stake in TerraForm Global in the second quarter worth about $98,657,000. Alpine Associates Management Inc. purchased a new stake in TerraForm Global in the second quarter worth about $23,915,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in TerraForm Global by 82.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 2,153,619 shares of the energy company’s stock worth $10,876,000 after purchasing an additional 972,106 shares during the period. Banco BTG Pactual S.A. grew its holdings in TerraForm Global by 60.5% in the second quarter. Banco BTG Pactual S.A. now owns 1,611,106 shares of the energy company’s stock worth $8,136,000 after purchasing an additional 607,588 shares during the period. Finally, State Street Corp grew its holdings in TerraForm Global by 4.1% in the second quarter. State Street Corp now owns 1,581,761 shares of the energy company’s stock worth $7,988,000 after purchasing an additional 61,755 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.

TerraForm Global (NASDAQ:GLBL) opened at 4.75 on Friday. The company has a 50-day moving average of $4.88 and a 200 day moving average of $4.62. The company’s market cap is $536.61 million. TerraForm Global has a 12 month low of $3.40 and a 12 month high of $5.10.

TerraForm Global (NASDAQ:GLBL) last announced its quarterly earnings results on Wednesday, August 9th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to analysts’ expectations of $66.33 million. During the same quarter in the prior year, the firm earned $0.01 EPS. On average, equities analysts forecast that TerraForm Global will post ($0.16) earnings per share for the current fiscal year.

GLBL has been the topic of a number of research analyst reports. BidaskClub raised shares of TerraForm Global from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research cut shares of TerraForm Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Finally, ValuEngine cut shares of TerraForm Global from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $5.38.

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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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