TerraForm Power Inc. (TERP) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the utilities sector during morning trading action on September 22. At the lunch break, shares of TERP have tacked on 4.14% to $14.58 after closing the day prior at $14.0. In the first two and a half hours of trading, the stock has gone as high as $14.65 and as low as $14.05. Today’s rise has come with about 1.23 million shares changing hands, compared to an average 30-day volume of 1.09 million for TerraForm Power Inc.. The price is currently below the 30-day volume weighted average price of $14.48 for TERP.
The share appreciation gives the company a market capitalization of $1.97 billion based upon 140.4 million shares outstanding. It also means that TERP has a price-to-book ratio of 1.61:1.
In the past 52 weeks, shares of TERP have traded as low as $6.73 and as high as $20.12. Technical traders will take note that at $14.58, shares of TERP are trading above their 200-day MA at $10.36 and above their 50-day MA at $12.41. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is TERP?
TerraForm Power Inc owns and operates contracted clean power generation assets. It owns solar and wind generation assets serving utility, commercial and residential customers. The company’s employees are led by CEO from the corporate headquarters at 7550 Wisconsin Avenue in Beltsville, MD.
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