Vivint Solar, Inc. (NYSE:VSLR) Downgraded by Deutsche Bank AG to Hold
Vivint Solar, Inc. (NYSE:VSLR) was downgraded by research analysts at Deutsche Bank AG to a “hold” rating in a research report issued to clients and investors on Wednesday. They currently have a $6.00 target price on the semiconductor company’s stock. Deutsche Bank AG’s target price would indicate a potential upside of 20.00% from the company’s current price.
A number of other research analysts have also issued reports on VSLR. Credit Suisse Group set a $4.00 target price on shares of Vivint Solar and gave the company a “hold” rating in a research note on Monday, May 8th. ValuEngine upgraded shares of Vivint Solar from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded shares of Vivint Solar from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.50 to $6.00 in a research note on Tuesday, June 20th. Finally, Zacks Investment Research upgraded shares of Vivint Solar from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $5.32.
Shares of Vivint Solar (NYSE VSLR) opened at 5.00 on Wednesday. The stock has a market capitalization of $552.88 million, a PE ratio of 9.31 and a beta of -0.25. The company’s 50-day moving average is $5.40 and its 200-day moving average is $3.61. Vivint Solar has a 12 month low of $2.50 and a 12 month high of $6.09.
Vivint Solar (NYSE:VSLR) last posted its earnings results on Tuesday, May 9th. The semiconductor company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by $0.02. Vivint Solar had a net margin of 36.54% and a negative return on equity of 29.10%. The firm had revenue of $53.11 million during the quarter, compared to analyst estimates of $47.09 million. During the same quarter in the previous year, the business posted ($0.65) earnings per share. The business’s quarterly revenue was up 208.2% compared to the same quarter last year. Equities research analysts expect that Vivint Solar will post ($1.74) earnings per share for the current fiscal year.
In other Vivint Solar news, EVP Thomas G. Plagemann sold 46,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $3.06, for a total value of $140,760.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Dana C. Russell sold 149,500 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $2.76, for a total transaction of $412,620.00. Following the completion of the sale, the chief financial officer now owns 250,500 shares in the company, valued at $691,380. The disclosure for this sale can be found here. Insiders sold a total of 855,561 shares of company stock worth $3,394,270 over the last 90 days. Company insiders own 4.50% of the company’s stock.
Several hedge funds have recently modified their holdings of VSLR. Bank of New York Mellon Corp raised its stake in shares of Vivint Solar by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 152,176 shares of the semiconductor company’s stock valued at $426,000 after buying an additional 914 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Vivint Solar by 1.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 73,259 shares of the semiconductor company’s stock valued at $205,000 after buying an additional 1,000 shares during the period. Rhumbline Advisers raised its stake in shares of Vivint Solar by 9.8% in the second quarter. Rhumbline Advisers now owns 28,571 shares of the semiconductor company’s stock valued at $167,000 after buying an additional 2,549 shares during the period. First Trust Advisors LP raised its stake in shares of Vivint Solar by 17.0% in the second quarter. First Trust Advisors LP now owns 114,852 shares of the semiconductor company’s stock valued at $672,000 after buying an additional 16,707 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Vivint Solar by 79.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 71,013 shares of the semiconductor company’s stock valued at $416,000 after buying an additional 31,361 shares during the period. Institutional investors and hedge funds own 93.72% of the company’s stock.
Vivint Solar Company Profile
Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.
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