8point3 Energy Partners LP (NASDAQ:CAFD) was the recipient 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 daily trading volume, of 374,314 shares, the short-interest ratio is currently 2.0 days.

Shares of 8point3 Energy Partners (NASDAQ:CAFD) opened at 13.50 on Tuesday. 8point3 Energy Partners has a 52-week low of $12.22 and a 52-week high of $17.34. The firm’s 50-day moving average price is $14.19 and its 200 day moving average price is $15.10.

8point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings results on Tuesday, September 20th. The company reported $0.38 EPS for the quarter, meeting the Zacks’ 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 earned $26.10 million during the quarter. Analysts predict that 8point3 Energy Partners will post $0.92 EPS for the current year.

Several research analysts have recently commented on CAFD shares. JPMorgan Chase & Co. set a $20.00 price objective on 8point3 Energy Partners and gave the stock a “buy” rating in a report on Wednesday, September 28th. Bank of America Corp. started coverage on 8point3 Energy Partners in a report on Tuesday, October 18th. They issued a “buy” rating and a $18.00 price objective on the stock. Credit Suisse Group AG started coverage on 8point3 Energy Partners in a report on Thursday, November 17th. They issued an “underperform” rating and a $12.00 price objective on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $20.00 price objective on shares of 8point3 Energy Partners in a report on Friday, September 23rd. Finally, Zacks Investment Research upgraded 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. 8point3 Energy Partners currently has a consensus rating of “Buy” and an average target price of $18.46.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD increased its position in shares of 8point3 Energy Partners by 110.7% in the second quarter. BlackRock Group LTD now owns 6,368 shares of the company’s stock worth $101,000 after buying an additional 3,346 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of 8point3 Energy Partners by 37.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,407 shares of the company’s stock worth $107,000 after buying an additional 2,000 shares during the last quarter. Cornerstone Advisors Inc. acquired a new position in shares of 8point3 Energy Partners during the third quarter worth approximately $144,000. Prescott Group Capital Management L.L.C. acquired a new position in shares of 8point3 Energy Partners during the third quarter worth approximately $157,000. Finally, Analytic Investors LLC acquired a new position in shares of 8point3 Energy Partners during the third quarter worth approximately $206,000. 60.40% of the stock is owned by hedge funds and other institutional investors.

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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.

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