Revenue Update on 8Point3 Energy Partners LP(NASDAQ:CAFD)

8Point3 Energy Partners LP(NASDAQ:CAFD) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jun 29, 2016. Company reported revenue of $13.52M. Analysts estimated a revenue of $11.60M. Earnings per share were $0.50.

In a different note, Wells Fargo said it Initiates Coverage on 8Point3 Energy Partners LP, according to a research note issued on Jun 2, 2016. The shares have been rated ‘Outperform’ by the firm.

8Point3 Energy Partners LP (CAFD) made into the market gainers list on Fridays trading session with the shares advancing 2.15% or 0.34 points. Due to strong positive momentum, the stock ended at $16.14, which is also near the day’s high of $16.19. The stock began the session at $15.8 and the volume stood at 2,51,811 shares. The 52-week high of the shares is $19 and the 52 week low is $10.26. The company has a current market capitalization of $1,146 M and it has 7,10,14,658 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 20, 2016, Charles D Boynton (director officer ) purchased 1,714 shares at $14.61 per share price.Also, 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.

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