Shares of Bluefield Solar Income Fund (LON:BSIF – Get Free Report) shot up 15.7% during mid-day trading on Monday . The company traded as high as GBX 92.40 and last traded at GBX 91.14. 6,096,511 shares traded hands during mid-day trading, an increase of 233% from the average session volume of 1,832,668 shares. The stock had previously closed at GBX 78.80.
Key Stories Impacting Bluefield Solar Income Fund
Here are the key news stories impacting Bluefield Solar Income Fund this week:
- Positive Sentiment: Drax’s all-cash takeover of Bluefield Solar Income Fund should provide shareholders with a premium and removes uncertainty around the stock’s standalone outlook. Article Title
- Positive Sentiment: Multiple reports said BSIF shares surged after the bid, reflecting strong market approval of the acquisition terms. Article Title
- Neutral Sentiment: Jefferies reaffirmed its “hold” rating on BSIF, which is a separate analyst view and does not change the takeover story. Article Title
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group reaffirmed a “hold” rating on shares of Bluefield Solar Income Fund in a research report on Tuesday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Bluefield Solar Income Fund currently has a consensus rating of “Hold” and a consensus price target of GBX 95.
Bluefield Solar Income Fund Stock Performance
The firm has a market cap of £541.42 million, a price-to-earnings ratio of -9.82 and a beta of 0.03. The firm has a 50-day moving average price of GBX 81.58 and a two-hundred day moving average price of GBX 75.74.
Bluefield Solar Income Fund (LON:BSIF – Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported GBX 16.03 EPS for the quarter. Bluefield Solar Income Fund had a negative return on equity of 4.29% and a negative net margin of 196.27%. Research analysts anticipate that Bluefield Solar Income Fund will post 302.1632747 earnings per share for the current year.
About Bluefield Solar Income Fund
Bluefield Solar Income Fund (BSIF) is an investment company focused on the acquisition and long-term management of a diversified portfolio of low carbon assets in the UK, with a primary focus on solar assets. The fund’s initial public offering (IPO) was in July 2013, making it the first investment company focused on solar PV to be listed on the London Stock Exchange (LSE). The investment objective of the fund is to deliver long term, attractive yield via the payment of quarterly dividends.
The fund primarily targets utility scale solar assets and portfolios on greenfield, industrial and/or commercial sites.
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