8point3 Energy Partners LP (CAFD) Stock Price Down 2.1%
8point3 Energy Partners LP (NASDAQ:CAFD) shares dropped 2.1% on Thursday . The stock traded as low as $15.17 and last traded at $15.24, with a volume of 60,679 shares trading hands. The stock had previously closed at $15.56.
CAFD has been the topic of several analyst reports. Zacks Investment Research upgraded 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Tuesday, June 7th. Wells Fargo & Co. initiated coverage on 8point3 Energy Partners in a research note on Wednesday, June 1st. They issued an “outperform” rating on the stock. Mizuho lowered their target price on 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. Raymond James Financial Inc. reiterated a “strong-buy” rating on shares of 8point3 Energy Partners in a research note on Thursday, June 30th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $19.00 target price on shares of 8point3 Energy Partners in a research note on Thursday, June 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. 8point3 Energy Partners presently has a consensus rating of “Buy” and an average target price of $18.43.
The company has a 50 day moving average price of $16.23 and a 200-day moving average price of $15.34. The stock has a market cap of $311.22 million and a P/E ratio of 15.23.
8point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings data on Wednesday, June 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.51. The firm had revenue of $13.50 million for the quarter, compared to analyst estimates of $11.60 million. Analysts predict that 8point3 Energy Partners LP will post $0.85 EPS for the current year.
8point3 Energy Partners LP (8point3 Partners) is a limited partnership formed by First Solar and SunPower to own, operate and acquire solar energy generation projects. The Company’s portfolio includes utility projects, and commercial and industrial (C&I) projects. Its utility projects include MarylandSolar project, a 100% owned project located in Maryland; Solar Gen 2 project, a 49% owned project located in California; Lost Hills / Blackwell project, a 49% owned project located in California; North Star project, a 49% owned project located in California; RPU project, a 100% owned project located in California, and Quinto project, a 100% owned project located in California.
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