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Calpine (NYSE:CPN) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday. They currently have a $25.80 price objective on the stock. Zacks‘s price target points to a potential upside of 10.35% from the stock’s previous close.

Shares of Calpine (NYSE:CPN) traded down 1.81% on Tuesday, hitting $23.38. The stock had a trading volume of 5,498,511 shares. Calpine has a 52 week low of $18.46 and a 52 week high of $24.24. The stock’s 50-day moving average is $23.27 and its 200-day moving average is $20.99. The company has a market cap of $9.899 billion and a price-to-earnings ratio of 85.65. Calpine also was the target of a large increase in short interest in June. As of June 13th, there was short interest totalling 4,681,997 shares, an increase of 50.1% from the May 30th total of 3,118,350 shares. Based on an average trading volume of 2,196,342 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.2% of the company’s stock are short sold.

Calpine (NYSE:CPN) last announced its earnings results on Thursday, May 1st. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.06) by $0.02. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company posted ($0.16) earnings per share. Calpine’s revenue was up 58.3% compared to the same quarter last year. Analysts expect that Calpine will post $0.80 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Argus raised their price target on shares of Calpine from $25.00 to $27.00 in a research note on Wednesday, May 21st. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Calpine from $22.00 to $25.00 in a research note on Monday, May 12th. They now have a “sector perform” rating on the stock. Finally, analysts at TheStreet upgraded shares of Calpine from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $24.81.

Calpine Corporation (NYSE:CPN) is an independent wholesale power producer in the United States.

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