8point3 Energy Partners LP , which operates and acquires solar energy generation projects, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CAFD’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that 8point3 Energycould be a solid choice for investors.

Current Quarter Estimates for CAFD

In the past 30 days, 5 estimates have gone higher for 8point3 Energywhile none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 14 cents a share 30 days ago, to 42 cents per share today, a significant move.

Current Year Estimates for CAFD

Meanwhile, 8point3 Energy’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 48 cents per share 30 days ago to $1.11 per share today, a significant increase.

Bottom Line

The stock has also started to move higher lately, adding 7.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>