Shares of Bluefield Solar Income Fund (LON:BSIF) fell below their 50-day moving average during trading on October 22, 2023. The stock, which has a 50-day moving average of GBX 70.22, traded as low as GBX 68.77 before closing at GBX 68.80. The trading volume for the day reached 2,175,374 shares, reflecting significant market activity.
Analysts at the Royal Bank of Canada have revised their price target for Bluefield Solar Income Fund, reducing it from GBX 115 to GBX 95. They assigned a “sector perform” rating for the company in a research note released on the same day. Currently, one analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Bluefield Solar Income Fund holds a consensus rating of “Hold” along with a consensus target price of GBX 95.
Latest Earnings Report Highlights
On October 21, 2023, Bluefield Solar Income Fund announced its earnings results, revealing an earnings per share (EPS) of GBX 10.40 for the quarter. The company reported a negative return on equity of 1.19% alongside a notable net margin of 129.55%. Analysts predict that Bluefield Solar Income Fund will achieve an EPS of approximately 302.16 for the current fiscal year.
The Bluefield Solar Income Fund is an investment entity that focuses on acquiring and managing a diversified portfolio of low-carbon assets in the UK, with an emphasis on solar energy. Established in July 2013, it became the first investment company dedicated to solar photovoltaic (PV) assets to be listed on the London Stock Exchange. The fund aims to deliver attractive long-term yields through quarterly dividends, primarily targeting utility-scale solar assets situated on greenfield, industrial, and commercial sites.
Investors and stakeholders are closely monitoring the performance of Bluefield Solar Income Fund as it navigates through market fluctuations and analyst recommendations. The adjustments in ratings and price targets are indicative of the evolving landscape within the renewable energy investment sector.
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