TerraForm Global (NASDAQ:GLBL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

A number of other brokerages have also recently weighed in on GLBL. BidaskClub cut TerraForm Global from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine cut TerraForm Global from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $5.25.

Shares of TerraForm Global (GLBL) traded up $0.23 during midday trading on Wednesday, hitting $4.95. The company had a trading volume of 2,059,572 shares, compared to its average volume of 878,825. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.74 and a current ratio of 1.74. TerraForm Global has a 52 week low of $3.40 and a 52 week high of $5.10.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its position in TerraForm Global by 87.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 27,240 shares of the energy company’s stock worth $129,000 after acquiring an additional 12,670 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in TerraForm Global during the 2nd quarter worth approximately $151,000. Voya Investment Management LLC grew its position in TerraForm Global by 13.5% during the 2nd quarter. Voya Investment Management LLC now owns 47,874 shares of the energy company’s stock worth $242,000 after acquiring an additional 5,705 shares during the last quarter. Alpine Global Management LLC bought a new position in TerraForm Global during the 2nd quarter worth approximately $253,000. Finally, Dimensional Fund Advisors LP bought a new position in TerraForm Global during the 2nd quarter worth approximately $261,000. 49.44% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The correct version of this article can be read at https://www.americanbankingnews.com/2017/12/06/terraform-global-glbl-downgraded-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on TerraForm Global (GLBL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for TerraForm Global Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TerraForm Global Inc and related companies with MarketBeat.com's FREE daily email newsletter.