NEW YORK (TheStreet) -- TerraForm Power (TERP) - Get Report stock is advancing by 4.24% to $8.73 in late-afternoon trading on Thursday, as Brian Wuebbels, CEO of the company and its fellow yieldco TerraForm Global (GLBL), will resign effective immediately.
His responsibilities will temporarily fall to the newly created "office of the chairman."
The companies gave no reason for Wuebbels's departure.
Shares of TerraForm Power and TerraForm Global's parent company SunEdison (SUNE) have plunged by roughly 89% during the past three months following a string of financial troubles. SunEdison and its two yieldcos have delayed filing their annual reports for 2015.
Based in Bethesda, MD, TerraForm Power owns and operates contracted clean power generation assets.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
TerraForm Power's weaknesses include its deteriorating net income and generally high debt management risk.
You can view the full analysis from the report here: TERP
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.