Zacks Investment Research downgraded 8Point3 Energy Partners LP (NASDAQ:CAFD) to Hold in a statement released earlier today.
- Updated: September 23, 2016
Zacks Investment Research has downgraded 8Point3 Energy Partners LP (NASDAQ:CAFD) to Hold in a report released on 9/23/2016.
Previously on 9/22/2016, Zacks Investment Research reported about 8Point3 Energy Partners LP (NASDAQ:CAFD) raised the target price from $0.00 to $18.00. At the time, this indicated a possible upside of 0.18%.
Yesterday 8Point3 Energy Partners LP (NASDAQ:CAFD) traded -2.76% lower at $14.79. CAFD’s 50-day average is $15.64 and its two hundred day average is $15.32. With the last stock price close down -3.48% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 3,122,950 shares of the stock traded hands, up from an average trading volume of 232,912
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8Point3 Energy Partners LP has a 52 week low of $10.26 and a 52 week high of $17.34 with a P/E ratio of 7.04 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its stock price target, a total of 12 brokerages have issued a ratings update on the company. The average stock price target is $17.67 with 4 equity analysts rating the company a strong buy, five equity analysts rating the company a buy, two equity analysts rating the company a hold, two equity analysts rating the company a underperform, and lastly zero analysts rating the company a sell.
General Company Details For 8Point3 Energy Partners LP (NASDAQ:CAFD)
8Point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of July 31, 2016, the Company owned a 28.2% limited liability company interest in 8point3 Operating Company, LLC (OpCo). As of July 31, 2016, the Company's portfolio consisted of interests in 530 megawatts (MW) of solar energy projects. As of July 31, 2016, the Company owned interests in eight utility-scale solar energy projects, all of which are operational. As of July 31, 2016, its assets represented 88% of the generating capacity of its portfolio. As of July 31, 2016, the Company owned interests in four commercial and industrial (C&I) solar energy projects, two of which were operational and two of which were in late-stage construction, and a portfolio of residential distributed solar generation (DG Solar) assets, which represent 12% of the generating capacity of the Company's portfolio. Its portfolio is located entirely in the United States and consists of utility-scale and C&I assets.
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