TerraForm Global, Inc. (GLBL) Short Interest Update
TerraForm Global, Inc. (NASDAQ:GLBL) was the recipient of a large decline in short interest during the month of October. As of October 13th, there was short interest totalling 592,006 shares, a decline of 42.0% from the September 29th total of 1,020,623 shares. Based on an average daily trading volume, of 440,130 shares, the short-interest ratio is presently 1.3 days. Approximately 0.6% of the company’s stock are short sold.
TerraForm Global (NASDAQ:GLBL) opened at 4.90 on Friday. TerraForm Global has a 12 month low of $3.40 and a 12 month high of $5.10. The stock has a 50 day moving average of $4.85 and a 200-day moving average of $4.85. The stock’s market cap is $553.55 million.
TerraForm Global (NASDAQ:GLBL) last released its earnings results on Wednesday, August 9th. The energy company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). TerraForm Global had a negative return on equity of 6.15% and a negative net margin of 26.87%. The firm had revenue of $62.50 million for the quarter, compared to analysts’ expectations of $66.33 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, equities analysts forecast that TerraForm Global will post ($0.16) EPS for the current fiscal year.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of TerraForm Global from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. ValuEngine downgraded shares of TerraForm Global from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Finally, BidaskClub raised shares of TerraForm Global from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.13.
Hedge funds have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd purchased a new stake in shares of TerraForm Global during the second quarter worth approximately $151,000. Two Sigma Securities LLC increased its stake in shares of TerraForm Global by 122.7% during the first quarter. Two Sigma Securities LLC now owns 38,656 shares of the energy company’s stock worth $186,000 after buying an additional 21,295 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of TerraForm Global by 101.9% during the first quarter. UBS Asset Management Americas Inc. now owns 41,600 shares of the energy company’s stock worth $200,000 after buying an additional 21,000 shares during the period. Voya Investment Management LLC increased its stake in shares of TerraForm Global by 13.5% during the second quarter. Voya Investment Management LLC now owns 47,874 shares of the energy company’s stock worth $242,000 after buying an additional 5,705 shares during the period. Finally, Paloma Partners Management Co increased its stake in shares of TerraForm Global by 6.9% during the first quarter. Paloma Partners Management Co now owns 49,600 shares of the energy company’s stock worth $238,000 after buying an additional 3,185 shares during the period. Hedge funds and other institutional investors own 49.74% of the company’s stock.
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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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