What Next for Terraform Power Inc – Class A New (NASDAQ:TERP) Stock After Decrease in Shorted Shares?

July 14, 2018 - By Christine McCrea

The stock of Terraform Power Inc – Class A New (NASDAQ:TERP) registered a decrease of 8.53% in short interest. TERP’s total short interest was 2.77M shares in July as published by FINRA. Its down 8.53% from 3.02M shares, reported previously. With 353,900 shares average volume, it will take short sellers 8 days to cover their TERP’s short positions. The short interest to Terraform Power Inc – Class A New’s float is 2.66%.

The stock decreased 2.06% or $0.23 during the last trading session, reaching $10.93. About 947,563 shares traded or 34.63% up from the average. TerraForm Power, Inc. (NASDAQ:TERP) has risen 7.08% since July 14, 2017 and is uptrending. It has underperformed by 5.49% the S&P500.

TerraForm Power, Inc., together with its subsidiaries, owns and operates clean power generation assets serving utility and commercial customers. The company has market cap of $2.29 billion. As of June 30, 2017, its portfolio consisted of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with a combined nameplate capacity of 2,606.7 megawatts. It currently has negative earnings. The firm was formerly known as SunEdison Yieldco, Inc. and changed its name to TerraForm Power, Inc. in May 2014.

TerraForm Power, Inc. (NASDAQ:TERP) Ratings Coverage

Among 4 analysts covering TerraForm Power (NASDAQ:TERP), 3 have Buy rating, 1 Sell and 0 Hold. Therefore 75% are positive. TerraForm Power has $13 highest and $1300 lowest target. $13’s average target is 18.94% above currents $10.93 stock price. TerraForm Power had 4 analyst reports since March 15, 2018 according to SRatingsIntel. The rating was upgraded by J.P. Morgan to “Buy” on Thursday, May 3. The stock has “Overweight” rating by JP Morgan on Thursday, May 3. The firm has “Sell” rating given on Thursday, March 15 by Goldman Sachs.

More news for TerraForm Power, Inc. (NASDAQ:TERP) were recently published by: Fool.com, which released: “Is TerraForm Power, Inc. a Buy?” on July 02, 2018. Globenewswire.com‘s article titled: “Analysis: Positioning to Benefit within CPI Card Group, Ball, KeyCorp, TerraForm Power, Sears, and LPL Financial …” and published on June 25, 2018 is yet another important article.

TerraForm Power, Inc. (NASDAQ:TERP) Ratings Chart

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