8Point3 Energy Partners (CAFD) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of 8Point3 Energy Partners (NASDAQ:CAFD) from a hold rating to a sell rating in a research report report published on Thursday.

A number of other research firms also recently weighed in on CAFD. JPMorgan Chase & Co. downgraded 8Point3 Energy Partners from an overweight rating to a neutral rating in a research report on Tuesday, January 9th. Bank of America assumed coverage on 8Point3 Energy Partners in a research report on Tuesday, October 24th. They set an underperform rating and a $12.00 target price on the stock. Robert W. Baird reissued a buy rating and set a $16.00 target price on shares of 8Point3 Energy Partners in a research report on Friday, October 20th. Roth Capital set a $15.00 target price on 8Point3 Energy Partners and gave the stock a hold rating in a research report on Saturday, November 25th. Finally, TheStreet downgraded 8Point3 Energy Partners from a c rating to a d+ rating in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $13.45.

8Point3 Energy Partners (NASDAQ:CAFD) traded up $0.04 during mid-day trading on Thursday, reaching $12.27. The company had a trading volume of 468,900 shares, compared to its average volume of 397,860. 8Point3 Energy Partners has a fifty-two week low of $11.51 and a fifty-two week high of $15.92. The firm has a market capitalization of $971.16 and a P/E ratio of 47.23. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.82.

A number of institutional investors and hedge funds have recently made changes to their positions in CAFD. Quentec Asset Management LLC lifted its stake 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 worth $34,015,000 after purchasing an additional 297,702 shares during the period. Lansdowne Partners UK LLP lifted its stake in 8Point3 Energy Partners by 65.1% during the fourth quarter. Lansdowne Partners UK LLP now owns 685,838 shares of the energy company’s stock worth $10,432,000 after purchasing an additional 270,426 shares during the period. Cushing Asset Management LP lifted its stake in 8Point3 Energy Partners by 415.9% during the fourth quarter. Cushing Asset Management LP now owns 263,500 shares of the energy company’s stock worth $4,008,000 after purchasing an additional 212,422 shares during the period. Guggenheim Capital LLC lifted its stake in 8Point3 Energy Partners by 15.7% during the fourth quarter. Guggenheim Capital LLC now owns 1,178,312 shares of the energy company’s stock worth $17,922,000 after purchasing an additional 159,518 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in 8Point3 Energy Partners by 509.1% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 142,263 shares of the energy company’s stock worth $2,163,000 after purchasing an additional 118,906 shares during the period. Hedge funds and other institutional investors own 17.48% of the company’s stock.

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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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