SolarCity Corp. (NASDAQ:SCTY) dropped 2.4% during trading on Friday . The stock traded as low as $23.74 and last traded at $23.94, with a volume of 3,631,254 shares changing hands. The stock had previously closed at $24.54.

SCTY has been the topic of several recent analyst reports. Vetr cut SolarCity Corp. from a “buy” rating to a “hold” rating and set a $27.73 price objective on the stock. in a research report on Wednesday, April 6th. Raymond James Financial Inc. raised SolarCity Corp. from an “outperform” rating to a “strong-buy” rating and set a $26.35 target price on the stock in a research report on Friday, April 1st. Zacks Investment Research cut SolarCity Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Avondale Partners raised SolarCity Corp. from a “market perform” rating to an “outperform” rating in a research report on Tuesday, June 28th. Finally, Roth Capital reissued a “neutral” rating and issued a $19.00 target price on shares of SolarCity Corp. in a research report on Monday, May 9th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.55.

The firm’s market capitalization is $2.34 billion. The stock’s 50-day moving average price is $22.63 and its 200-day moving average price is $27.69.

SolarCity Corp. (NASDAQ:SCTY) last announced its earnings results on Monday, May 9th. The renewable energy company reported ($2.56) EPS for the quarter, missing analysts’ consensus estimates of ($2.34) by $0.22. During the same period in the prior year, the firm earned ($1.52) earnings per share. The business earned $122.57 million during the quarter, compared to analyst estimates of $108.44 million. SolarCity Corp.’s revenue was up 81.6% on a year-over-year basis. On average, equities analysts expect that SolarCity Corp. will post ($10.14) earnings per share for the current year.

In other SolarCity Corp. news, CFO Tanguy Serra sold 2,617 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $20.51, for a total transaction of $53,674.67. Following the completion of the transaction, the chief financial officer now owns 23,088 shares of the company’s stock, valued at $473,534.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Hayden Barnard sold 3,428 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $20.35, for a total value of $69,759.80. Following the transaction, the executive now directly owns 137,374 shares of the company’s stock, valued at approximately $2,795,560.90. The disclosure for this sale can be found here.

Other institutional investors have recently made changes to their positions in the company. Swiss National Bank boosted its position in shares of SolarCity Corp. by 0.6% in the fourth quarter. Swiss National Bank now owns 79,000 shares of the renewable energy company’s stock worth $4,031,000 after buying an additional 500 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of SolarCity Corp. by 0.8% in the fourth quarter. California Public Employees Retirement System now owns 109,440 shares of the renewable energy company’s stock worth $5,584,000 after buying an additional 900 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of SolarCity Corp. by 2.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 42,590 shares of the renewable energy company’s stock worth $2,173,000 after buying an additional 1,078 shares during the last quarter. Rhumbline Advisers boosted its position in shares of SolarCity Corp. by 2.7% in the fourth quarter. Rhumbline Advisers now owns 53,035 shares of the renewable energy company’s stock worth $2,706,000 after buying an additional 1,380 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of SolarCity Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 109,595 shares of the renewable energy company’s stock worth $5,592,000 after buying an additional 1,771 shares during the last quarter.

SolarCity Corporation sells renewable energy. The Company is engaged in the design, manufacture, installation and sale or lease of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers. The Company operates through solar energy products and services segment.

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