8point3 Energy Partners LP – Cl (NASDAQ:CAFD) Stock Closed Above Its 50 Day Moving Average

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Shares are trading at $15.57 barely above $14.85, the stock’s 50 day moving average and quite a bit higher than the 200 day moving average of $14.06. The 50 day moving average went up $0.72 or +4.88% whereas the 200 day moving average was up $1.51 or +10.71%. (NASDAQ:CAFD) shares saw light trading volume with 7,223 shares changing hands by the end of trading on Tuesday. Overall, volume was down 96.46% under the stocks normal daily volume.

Traders are more bearish recently if you look at the change in short interest. The firm saw a rise in short interest from September 15, 2017 to September 29, 2017 of 8.70%. Short shares increased 55,389 over that timeframe. The short-interest ratio increased to 5.0 and the percentage of shorted shares was 0.02% on September 29.

A few notable investment firms have updated their holdings. As of the end of the quarter Baird Financial Group, Inc. had sold 115,128 shares trimming its stake by 33.9%. The value of the investment in (CAFD) went from $4,608,000 to $3,396,000 a change of 26.3% quarter to quarter. Ecofin Ltd expanded its investment by buying 210,077 shares an increase of 90.4% from 06/30/2017 to 09/30/2017. Ecofin Ltd owns 442,455 shares worth $6,650,000. The value of the position overall is up by 89.1%.

As of quarter end Cutler Group LP had disposed of a total of 1,920 shares trimming its position 53.0%. The value in dollars decreased from $54,000 to $0 decreasing 100.0% since the last quarter. Winslow, Evans & Crocker, Inc. grew its ownership by buying 1 shares an increase of 0.3% in the quarter. Winslow, Evans & Crocker, Inc. currently owns 308 shares valued at $4,616,000. The total value of its holdings decreased 0.6%.

The company’s P/E ratio is 60.82 and the market cap of the company is 437.22M. In the last earnings report the EPS was $0.26 and is projected to be $0.53 for the current year with 28,081,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $0.05 and the next full year EPS is projected to be $0.63.

8point3 Energy Partners LP, launched on March 3, 2015, owns, operates and acquires solar energy generation projects. As of November 30, 2016, the Business’s portfolio consisted of interests in 642 Megawatt (MW) of solar energy projects. The Company is developing projects under utility, commercial and industrial (C&I) and residential categories. As of November 30, 2016, the Company owned interests in nine utility-scale solar energy projects; four C&I solar energy projects and a portfolio of residential Distributed generation (DG) Solar assets. The Business’s utility-scale and C&I project sells its energy output under long-term, fixed-price offtake agreements and its residential portfolios comprises solar installations, which are leased to homeowners under a fixed monthly rate. The Business’s utility project portfolio comprises projects, including Maryland Solar, Solar Gen 2, Lost Hills Blackwell, North Star, RPU, Quinto, Hooper and Kingbird. The Business’s C&I projects comprise UC Davis, Macy’s California, Macy’s Maryland and Kern. The Business’s residential portfolio targets homeowners in the United States..

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