TerraForm Power, Inc. (NASDAQ:TERP) saw a significant drop in short interest in the month of October. As of October 13th, there was short interest totalling 4,529,381 shares, a drop of 29.3% from the September 29th total of 6,408,036 shares. Based on an average daily trading volume, of 812,958 shares, the days-to-cover ratio is presently 5.6 days.

TerraForm Power (NASDAQ TERP) opened at 13.43 on Friday. The stock has a 50 day moving average of $13.26 and a 200 day moving average of $12.71. TerraForm Power has a 1-year low of $10.99 and a 1-year high of $14.50. The stock’s market cap is $1.67 billion.

Several brokerages have weighed in on TERP. Bank of America Corporation began coverage on shares of TerraForm Power in a research note on Tuesday. They set an “underperform” rating and a $11.00 target price for the company. Zacks Investment Research raised shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird raised shares of TerraForm Power from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $13.00 to $19.00 in a research note on Monday. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $13.00 target price on shares of TerraForm Power in a research note on Thursday, October 19th. Finally, TheStreet raised shares of TerraForm Power from a “d” rating to a “c-” rating in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.70.

In other TerraForm Power news, major shareholder Brookfield Asset Management In sold 625,000 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $12.95, for a total transaction of $8,093,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 34.55% of the company’s stock.

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of TerraForm Power by 0.6% during the 1st quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock worth $134,000 after purchasing an additional 69 shares during the period. UBS Asset Management Americas Inc. grew its holdings in shares of TerraForm Power by 1.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 27,138 shares of the solar energy provider’s stock worth $326,000 after purchasing an additional 323 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of TerraForm Power by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 327,371 shares of the solar energy provider’s stock worth $3,929,000 after purchasing an additional 1,979 shares during the period. Alliancebernstein L.P. grew its holdings in shares of TerraForm Power by 1.8% during the 2nd quarter. Alliancebernstein L.P. now owns 110,700 shares of the solar energy provider’s stock worth $1,328,000 after purchasing an additional 2,000 shares during the period. Finally, American International Group Inc. grew its holdings in shares of TerraForm Power by 7.1% during the 1st quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock worth $666,000 after purchasing an additional 3,559 shares during the period. Institutional investors and hedge funds own 82.25% of the company’s stock.

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TerraForm Power Company Profile

TerraForm Power, Inc is a United States-based holding company. The Company owns clean power generation assets. This includes solar and wind assets located in the United States, Canada and other markets. Its clean power generation assets serve utility, commercial and residential customers. As of December 31, 2016, the Company’s portfolio consisted of renewable energy facilities located in the United States, Canada, the United Kingdom and Chile with a combined nameplate capacity of 2,983.1 megawatts.

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