SolarCity Corp. (SCTY) Shares Down 1.6%
SolarCity Corp. (NASDAQ:SCTY)’s share price was down 1.6% during trading on Monday . The company traded as low as $18.36 and last traded at $18.48, with a volume of 5,276,400 shares traded. The stock had previously closed at $18.78.
A number of equities analysts recently commented on SCTY shares. Roth Capital reiterated a “neutral” rating and issued a $19.00 price target on shares of SolarCity Corp. in a research note on Monday, May 9th. Bank of America Corp. downgraded SolarCity Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $24.00 in a research note on Tuesday, May 10th. Stifel Nicolaus decreased their price target on SolarCity Corp. from $56.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, May 10th. Avondale Partners downgraded SolarCity Corp. from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $40.00 to $30.00 in a research note on Tuesday, May 10th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $49.00 price target on shares of SolarCity Corp. in a research note on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. SolarCity Corp. currently has a consensus rating of “Hold” and an average target price of $31.17.
The stock’s market cap is $1.85 billion. The firm has a 50-day moving average of $24.11 and a 200-day moving average of $24.00.
SolarCity Corp. (NASDAQ:SCTY) last issued its quarterly earnings data on Tuesday, August 9th. The renewable energy company reported ($2.32) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.44) by $0.12. The firm had revenue of $185.80 million for the quarter, compared to the consensus estimate of $141.57 million. SolarCity Corp.’s quarterly revenue was up 80.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, equities analysts anticipate that SolarCity Corp. will post ($9.92) earnings per share for the current year.
In other SolarCity Corp. news, EVP Seth R. Weissman sold 4,420 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $23.89, for a total transaction of $105,593.80. Following the sale, the executive vice president now directly owns 66,570 shares of the company’s stock, valued at $1,590,357.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Tanguy Serra sold 2,724 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $23.72, for a total transaction of $64,613.28. Following the sale, the chief financial officer now directly owns 27,437 shares in the company, valued at $650,805.64. The disclosure for this sale can be found here.
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.