Credit Suisse Group AG assumed coverage on shares of 8point3 Energy Partners LP (NASDAQ:CAFD) in a research note released on Thursday morning. The firm issued an underperform rating and a $12.00 target price on the stock.

CAFD has been the topic of several other reports. Bank of America Corp. initiated coverage on 8point3 Energy Partners in a research note 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 8point3 Energy Partners and gave the company a buy rating in a research note on Wednesday, September 28th. Robert W. Baird set a $20.00 target price on 8point3 Energy Partners and gave the company a buy rating in a research note on Wednesday, September 21st. Zacks Investment Research raised 8point3 Energy Partners from a hold rating to a strong-buy rating and set a $18.00 target price on the stock in a research note on Thursday, September 22nd. Finally, Oppenheimer Holdings Inc. reissued an outperform rating and set a $20.00 target price on shares of 8point3 Energy Partners in a research note on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $18.46.

8point3 Energy Partners (NASDAQ:CAFD) traded down 0.39% during trading on Thursday, hitting $12.72. The company’s stock had a trading volume of 65,909 shares. 8point3 Energy Partners has a 12 month low of $11.60 and a 12 month high of $17.34. The firm has a 50 day moving average of $14.38 and a 200 day moving average of $15.17. The firm has a market cap of $254.63 million, a P/E ratio of 6.05 and a beta of 1.16.

8point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $0.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.38. The company had revenue of $26.10 million for the quarter. 8point3 Energy Partners had a return on equity of 2.58% and a net margin of 87.76%. Equities research analysts predict that 8point3 Energy Partners will post $0.92 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of CAFD. Quantitative Systematic Strategies LLC purchased a new stake in 8point3 Energy Partners during the third quarter worth approximately $601,000. Credit Suisse AG boosted its stake in 8point3 Energy Partners by 230.2% in the third quarter. Credit Suisse AG now owns 37,407 shares of the company’s stock worth $539,000 after buying an additional 26,078 shares during the period. EJF Capital LLC purchased a new stake in 8point3 Energy Partners during the third quarter worth approximately $969,000. Summit Partners Public Asset Management LLC boosted its stake in 8point3 Energy Partners by 93.9% in the third quarter. Summit Partners Public Asset Management LLC now owns 352,049 shares of the company’s stock worth $5,070,000 after buying an additional 170,449 shares during the period. Finally, Clinton Group Inc. purchased a new stake in 8point3 Energy Partners during the third quarter worth approximately $308,000. Institutional investors own 49.38% of the company’s stock.

8point3 Energy Partners Company Profile

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.

5 Day Chart for NASDAQ:CAFD

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