8Point3 Energy Partners (CAFD) Given Hold Rating at Guggenheim

8Point3 Energy Partners (NASDAQ:CAFD)‘s stock had its “hold” rating restated by research analysts at Guggenheim in a report issued on Tuesday. They currently have a $12.00 price target on the energy company’s stock. Guggenheim’s price objective suggests a potential downside of 1.80% from the stock’s current price.

Other research analysts have also issued research reports about the company. B. Riley reissued a “neutral” rating on shares of 8Point3 Energy Partners in a research report on Wednesday, November 1st. Roth Capital set a $12.00 target price on 8Point3 Energy Partners and gave the stock a “hold” rating in a research report on Tuesday. Raymond James Financial reissued a “market perform” rating on shares of 8Point3 Energy Partners in a research report on Tuesday. Robert W. Baird decreased their target price on 8Point3 Energy Partners from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Zacks Investment Research lowered 8Point3 Energy Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Four research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. 8Point3 Energy Partners has an average rating of “Hold” and an average target price of $13.50.

Shares of 8Point3 Energy Partners (CAFD) traded down $1.61 during trading hours on Tuesday, hitting $12.22. The stock had a trading volume of 2,077,217 shares, compared to its average volume of 237,045. 8Point3 Energy Partners has a 12-month low of $11.51 and a 12-month high of $15.92. The company has a market cap of $962.46 and a price-to-earnings ratio of 28.42. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.26 and a quick ratio of 3.26.

A number of hedge funds have recently bought and sold shares of the stock. Quentec Asset Management LLC increased its position in 8Point3 Energy Partners by 15.1% during the 3rd quarter. Quentec Asset Management LLC now owns 2,263,160 shares of the energy company’s stock valued at $34,015,000 after buying an additional 297,702 shares in the last quarter. Oceanic Investment Management LTD bought a new position in 8Point3 Energy Partners during the 4th quarter valued at approximately $26,980,000. Eventide Asset Management LLC increased its position in 8Point3 Energy Partners by 6.2% during the 4th quarter. Eventide Asset Management LLC now owns 1,553,700 shares of the energy company’s stock valued at $20,167,000 after buying an additional 91,200 shares in the last quarter. Beach Investment Counsel Inc. PA increased its position in 8Point3 Energy Partners by 148.8% during the 2nd quarter. Beach Investment Counsel Inc. PA now owns 1,476,993 shares of the energy company’s stock valued at $23,336,000 after buying an additional 883,349 shares in the last quarter. Finally, Beach Investment Management LLC. increased its position in 8Point3 Energy Partners by 1,123.7% during the 2nd quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock valued at $17,700,000 after buying an additional 1,074,277 shares in the last quarter. 17.41% of the stock is owned by institutional investors.

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About 8Point3 Energy Partners

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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