Premier Fund Managers Ltd lowered its stake in TerraForm Global Inc. (NASDAQ:GLBL) by 28.3% during the second quarter, Holdings Channel reports. The fund owned 448,000 shares of the company’s stock after selling 177,000 shares during the period. Premier Fund Managers Ltd’s holdings in TerraForm Global were worth $1,415,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacad Investment Ltd. acquired a new position in TerraForm Global during the first quarter valued at approximately $110,000. Menta Capital LLC raised its position in TerraForm Global by 476.8% in the first quarter. Menta Capital LLC now owns 156,521 shares of the company’s stock valued at $373,000 after buying an additional 129,384 shares during the last quarter. Geode Capital Management LLC raised its position in TerraForm Global by 8.2% in the first quarter. Geode Capital Management LLC now owns 394,315 shares of the company’s stock valued at $938,000 after buying an additional 29,996 shares during the last quarter. Royal Bank of Canada raised its position in TerraForm Global by 248.4% in the first quarter. Royal Bank of Canada now owns 458,307 shares of the company’s stock valued at $1,091,000 after buying an additional 326,763 shares during the last quarter. Finally, State Street Corp raised its position in TerraForm Global by 6.6% in the first quarter. State Street Corp now owns 652,390 shares of the company’s stock valued at $1,555,000 after buying an additional 40,610 shares during the last quarter. Institutional investors and hedge funds own 54.45% of the company’s stock.
Shares of TerraForm Global Inc. (NASDAQ:GLBL) traded up 1.46% during trading on Tuesday, reaching $4.16. The company had a trading volume of 658,785 shares. TerraForm Global Inc. has a 12 month low of $1.92 and a 12 month high of $8.36. The stock has a 50 day moving average price of $3.71 and a 200 day moving average price of $3.13. The firm’s market capitalization is $485.51 million.
Several analysts have issued reports on the stock. Goldman Sachs Group Inc. assumed coverage on shares of TerraForm Global in a research report on Thursday, August 25th. They issued a “neutral” rating and a $9.00 price objective for the company. Avondale Partners raised shares of TerraForm Global to a “buy” rating in a research report on Wednesday, June 29th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. TerraForm Global has a consensus rating of “Buy” and a consensus target price of $5.54.
About TerraForm Global
TerraForm Global, Inc is a holding company. The Company owns interest in TerraForm Global, LLC, a diversified renewable energy company that owns long-term contracted wind, solar and hydro-electric power plants. The Company’s portfolio of projects include Hercules (China), NSM 24 (India), NSM Suryalabh (India), NSM Sitara (India), NSM L’Volta (India), Brakes (India), Raj 5 (India), Focal (India), Bhakrani (India), Gadag (India), Hanumanhatti (India), Boshoff (South Africa), Klipheuwel (South Africa), Koonkoonsies (South Africa), Witkop (South Africa), Soutpan (South Africa), Silverstar Pavilion (Malaysia), Fortune 11 (Malaysia), PP Solar (Thailand), ESPRA (Brazil), El Naranjal (Uruguay), Del Litoral (Uruguay), Alto Cielo (Uruguay) and LAP Portfolio (Peru).
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