8Point3 Energy Partners LP (CAFD) was Initiated by BofA/Merrill to “Buy” and the brokerage firm has set the Price Target at $18. BofA/Merrill advised their investors in a research report released on Oct 18, 2016.
On the company’s financial health, 8Point3 Energy Partners LP reported $0.05 EPS for the quarter, based on the information available during the earnings call on Sep 30, 2015. Analyst had a consensus estimate of $. The company had revenue of $3.08 million for the quarter.The company’s revenue was up 33.9% compared to the same quarter last year.
8Point3 Energy Partners LP opened for trading at $14.3 and hit $14.45 on the upside on Friday, eventually ending the session at $14.25, with a gain of 0.35% or 0.05 points. The heightened volatility saw the trading volume jump to 1,36,119 shares. Company has a market cap of $1,127 M.
In a different news, on May 20, 2016, Charles D Boynton (director officer ) purchased 1,714 shares at $14.61 per share price. According to the SEC, on Apr 12, 2016, Norman J Szydlowski (director) purchased 1,500 shares at $14.40 per share price. On Oct 8, 2015, Michael W Yackira (director) purchased 2,500 shares at $20.41 per share price, according to the Form-4 filing with the securities and exchange commission.
8point3 Energy Partners LP (8point3 Partners) is a limited partnership formed by First Solar and SunPower to own operate and acquire solar energy generation projects. The Company’s portfolio includes utility projects and commercial and industrial (C&I) projects. Its utility projects include MarylandSolar project a 100% owned project located in Maryland; Solar Gen 2 project a 49% owned project located in California; Lost Hills / Blackwell project a 49% owned project located in California; North Star project a 49% owned project located in California; RPU project a 100% owned project located in California and Quinto project a 100% owned project located in California. Its C&I projects include UC Davis project and Macy’s project which are 100% owned projects located in California. The Company’s residential portfolio consists of residential solar energy systems with an aggregate of 39 megawatts of capacity and an average solar energy system capacity of around 7.95 kilowatts.