Trade Report: Today, 8point3 Energy Partners LP (CAFD) Sees Large Growth in Short Interest

Today, 8point3 Energy Partners LP (CAFD) Sees Large Growth in Short Interest

8point3 Energy Partners LP (NASDAQ:CAFD) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 750,741 shares, an increase of 42.7% from the October 31st total of 525,923 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average trading volume of 374,314 shares, the days-to-cover ratio is presently 2.0 days.

Shares of 8point3 Energy Partners (NASDAQ:CAFD) opened at 13.50 on Tuesday. The stock’s 50 day moving average is $14.19 and its 200 day moving average is $15.10. 8point3 Energy Partners has a 1-year low of $12.22 and a 1-year high of $17.34.

8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. 8point3 Energy Partners had a net margin of 87.76% and a return on equity of 2.58%. The firm had revenue of $26.10 million for the quarter. On average, equities research analysts expect that 8point3 Energy Partners will post $0.92 EPS for the current fiscal year.

A number of equities analysts have recently commented on CAFD shares. Bank of America Corp. started coverage on shares of 8point3 Energy Partners in a research report on Tuesday, October 18th. They set a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. set a $20.00 target price on shares of 8point3 Energy Partners and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Robert W. Baird set a $20.00 target price on shares of 8point3 Energy Partners and gave the stock a “buy” rating in a research report on Wednesday, September 21st. Zacks Investment Research raised shares of 8point3 Energy Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a report on Thursday, September 22nd. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $20.00 price objective on shares of 8point3 Energy Partners in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. 8point3 Energy Partners presently has a consensus rating of “Buy” and a consensus price target of $18.46.

Institutional investors have recently modified their holdings of the company. New Harbor Financial Group LLC bought a new position in shares of 8point3 Energy Partners during the third quarter valued at approximately $457,000. Beach Investment Management LLC. raised its position in shares of 8point3 Energy Partners by 107.3% in the second quarter. Beach Investment Management LLC. now owns 109,870 shares of the company’s stock valued at $1,736,000 after buying an additional 56,860 shares in the last quarter. Beach Investment Counsel Inc. PA raised its position in shares of 8point3 Energy Partners by 148.8% in the second quarter. Beach Investment Counsel Inc. PA now owns 1,476,993 shares of the company’s stock valued at $23,336,000 after buying an additional 883,349 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of 8point3 Energy Partners by 8.9% in the second quarter. Guggenheim Capital LLC now owns 711,863 shares of the company’s stock valued at $11,247,000 after buying an additional 58,460 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of 8point3 Energy Partners by 45.4% in the second quarter. Raymond James & Associates now owns 25,272 shares of the company’s stock valued at $399,000 after buying an additional 7,890 shares in the last quarter. Hedge funds and other institutional investors own 60.40% of the company’s stock.

8point3 Energy Partners Company Profile

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