Shares of SolarCity Corp. (NASDAQ:SCTY) were down 6.7% on Monday . The stock traded as low as $24.90 and last traded at $24.92, with a volume of 5,017,478 shares changing hands. The stock had previously closed at $26.70.

Several brokerages have recently issued reports on SCTY. Stifel Nicolaus reduced their price objective on SolarCity Corp. from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 4th. Vetr downgraded 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. Robert W. Baird restated a “neutral” rating on shares of SolarCity Corp. in a research report on Thursday, April 7th. Bank of America Corp. restated a “buy” rating and issued a $40.00 price objective on shares of SolarCity Corp. in a research report on Saturday, April 9th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $49.00 price objective on shares of SolarCity Corp. in a research report on Tuesday, April 12th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. SolarCity Corp. currently has an average rating of “Hold” and an average target price of $30.72.

The firm’s 50 day moving average price is $24.02 and its 200 day moving average price is $25.40. The firm’s market capitalization is $2.43 billion.

SolarCity Corp. (NASDAQ:SCTY) last issued its earnings results on Monday, May 9th. The renewable energy company reported ($2.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.34) by $0.22. During the same period in the previous year, the business posted ($1.52) earnings per share. The firm earned $122.57 million during the quarter, compared to analyst estimates of $108.44 million. The firm’s revenue for the quarter was up 81.6% compared to the same quarter last year. Equities research analysts forecast that SolarCity Corp. will post ($10.04) earnings per share for the current year.

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

Several hedge funds have modified their holdings of SCTY. California Public Employees Retirement System boosted its stake 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 valued at $5,584,000 after buying an additional 900 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of SolarCity Corp. by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 193,069 shares of the renewable energy company’s stock valued at $9,850,000 after buying an additional 17,081 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of SolarCity Corp. by 13.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 20,497 shares of the renewable energy company’s stock valued at $1,046,000 after buying an additional 2,467 shares during the period. Finally, Rhumbline Advisers boosted its stake 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 valued at $2,706,000 after buying an additional 1,380 shares during the period.

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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