8point3 Energy Partners (CAFD) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of 8point3 Energy Partners (NASDAQ:CAFD) from a hold rating to a sell rating in a research report released on Wednesday morning.

CAFD has been the topic of several other research reports. Zacks Investment Research raised shares of 8point3 Energy Partners from a sell rating to a hold rating in a research note on Monday, September 11th. Bank of America initiated coverage on shares of 8point3 Energy Partners in a research note on Tuesday, October 24th. They set an underperform rating and a $12.00 target price on the stock. Robert W. Baird restated a buy rating and set a $16.00 price objective on shares of 8point3 Energy Partners in a research report on Friday, October 20th. Roth Capital set a $15.00 price objective on shares of 8point3 Energy Partners and gave the company a hold rating in a research report on Saturday, November 25th. Finally, Goldman Sachs Group lowered shares of 8point3 Energy Partners from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a research report on Tuesday, October 17th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $14.09.

8point3 Energy Partners (CAFD) traded down $0.05 during mid-day trading on Wednesday, hitting $14.14. 24,114 shares of the company were exchanged, compared to its average volume of 235,221. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.26 and a current ratio of 3.26. 8point3 Energy Partners has a 1-year low of $11.51 and a 1-year high of $15.79.

8point3 Energy Partners (NASDAQ:CAFD) last released its earnings results on Wednesday, October 4th. The energy company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.38). The company had revenue of $27.74 million for the quarter, compared to analyst estimates of $25.85 million. 8point3 Energy Partners had a net margin of 23.13% and a return on equity of 1.87%. research analysts forecast that 8point3 Energy Partners will post 0.53 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CAFD. Beach Investment Management LLC. lifted its position in shares of 8point3 Energy Partners by 1,123.7% in the second quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock worth $17,700,000 after purchasing an additional 1,074,277 shares in the last quarter. Quentec Asset Management LLC raised its position in 8point3 Energy Partners by 15.1% during the third quarter. Quentec Asset Management LLC now owns 2,263,160 shares of the energy company’s stock valued at $34,015,000 after acquiring an additional 297,702 shares in the last quarter. Boston Common Asset Management LLC raised its position in 8point3 Energy Partners by 36.3% during the second quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock valued at $5,602,000 after acquiring an additional 98,595 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in 8point3 Energy Partners by 102.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 155,754 shares of the energy company’s stock valued at $2,357,000 after acquiring an additional 78,922 shares in the last quarter. Finally, Wealthsource Partners LLC raised its position in 8point3 Energy Partners by 217.2% during the second quarter. Wealthsource Partners LLC now owns 40,125 shares of the energy company’s stock valued at $607,000 after acquiring an additional 27,475 shares in the last quarter. 18.50% of the stock is owned by institutional investors and hedge funds.

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8point3 Energy Partners Company Profile

8point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of November 30, 2016, Company’s portfolio comprised interests in 642 Megawatt (MW) of solar energy projects. The Company is developing projects under utility, commercial and industrial (C&I) and residential categories.

Analyst Recommendations for 8point3 Energy Partners (NASDAQ:CAFD)

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