BidaskClub Lowers Vivint Solar, Inc. (VSLR) to Hold
Vivint Solar, Inc. (NYSE:VSLR) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.
VSLR has been the topic of several other reports. Deutsche Bank AG downgraded shares of Vivint Solar from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) raised shares of Vivint Solar from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.50 to $6.00 in a report on Tuesday, June 20th. Zacks Investment Research raised shares of Vivint Solar from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a report on Saturday, August 12th. Finally, ValuEngine downgraded shares of Vivint Solar from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $4.65.
Shares of Vivint Solar (VSLR) traded down 3.804% on Thursday, hitting $4.425. 197,372 shares of the stock traded hands. The stock has a 50 day moving average of $4.90 and a 200 day moving average of $3.94. Vivint Solar has a one year low of $2.50 and a one year high of $6.10. The company has a market cap of $506.51 million, a PE ratio of 9.296 and a beta of -0.23.
Vivint Solar (NYSE:VSLR) last issued its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.07. Vivint Solar had a net margin of 26.35% and a negative return on equity of 26.46%. The business had revenue of $73.00 million for the quarter, compared to analyst estimates of $65.41 million. During the same quarter in the prior year, the business posted $0.12 EPS. Vivint Solar’s revenue for the quarter was up 109.2% compared to the same quarter last year. Equities analysts anticipate that Vivint Solar will post ($1.48) earnings per share for the current year.
In other Vivint Solar news, EVP Thomas G. Plagemann sold 6,550 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $5.45, for a total transaction of $35,697.50. Following the completion of the transaction, the executive vice president now directly owns 199,326 shares in the company, valued at $1,086,326.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider L. Chance Allred sold 60,764 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $5.18, for a total transaction of $314,757.52. Following the completion of the sale, the insider now owns 91,463 shares of the company’s stock, valued at $473,778.34. The disclosure for this sale can be found here. Insiders have sold 391,761 shares of company stock valued at $2,062,928 over the last 90 days. 4.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Vivint Solar by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,743,605 shares of the semiconductor company’s stock valued at $10,200,000 after buying an additional 329,748 shares during the last quarter. GCA Investment Management LLC acquired a new stake in shares of Vivint Solar in the second quarter valued at about $4,556,000. State Street Corp raised its position in shares of Vivint Solar by 5.8% in the second quarter. State Street Corp now owns 363,520 shares of the semiconductor company’s stock valued at $2,127,000 after buying an additional 20,027 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Vivint Solar by 235.2% in the first quarter. Parametric Portfolio Associates LLC now owns 201,415 shares of the semiconductor company’s stock valued at $564,000 after buying an additional 141,329 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its position in shares of Vivint Solar by 456.9% in the second quarter. Virtu KCG Holdings LLC now owns 161,804 shares of the semiconductor company’s stock valued at $947,000 after buying an additional 132,751 shares during the last quarter. Institutional investors and hedge funds own 95.15% 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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