Price Action Alert: How Analysts Feel About SolarCity Corp After Today’s Big Increase?

Price Action Alert: How Analysts Feel About SolarCity Corp After Today's Big Increase?

The stock of SolarCity Corp (NASDAQ:SCTY) is a huge mover today! About 1.86M shares traded hands. SolarCity Corp (NASDAQ:SCTY) has declined 22.78% since March 7, 2016 and is downtrending. It has underperformed by 30.37% the S&P500.
The move comes after 5 months positive chart setup for the $1.88B company. It was reported on Oct, 10 by Barchart.com. We have $24.84 PT which if reached, will make NASDAQ:SCTY worth $507.60M more.

Analysts await SolarCity Corp (NASDAQ:SCTY) to report earnings on November, 3. They expect $-2.18 earnings per share, down 3.81% or $0.08 from last year’s $-2.1 per share. After $-2.32 actual earnings per share reported by SolarCity Corp for the previous quarter, Wall Street now forecasts -6.03% EPS growth.

SolarCity Corp (NASDAQ:SCTY) Ratings Coverage

Out of 19 analysts covering SolarCity (NASDAQ:SCTY), 9 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 47% are positive. SolarCity has been the topic of 41 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Robert W. Baird maintained it with “Outperform” rating and $73 target price in Tuesday, August 25 report. On Monday, October 26 the stock rating was maintained by Roth Capital with “Buy”. The firm has “Underweight” rating given on Monday, June 20 by Barclays Capital. Bank of America downgraded SolarCity Corp (NASDAQ:SCTY) on Tuesday, May 10 to “Neutral” rating. As per Tuesday, June 28, the company rating was upgraded by Avondale. The company was upgraded on Thursday, December 17 by Bernstein. The stock of SolarCity Corp (NASDAQ:SCTY) has “Buy” rating given on Thursday, September 24 by Stifel Nicolaus. The firm has “Equal Weight” rating given on Thursday, February 11 by Barclays Capital. TH Capital maintained the shares of SCTY in a report on Sunday, November 1 with “Buy” rating. The firm has “Overweight” rating given on Monday, December 21 by Morgan Stanley.

According to Zacks Investment Research, “SolarCity Corporation provides clean energy services. The company offers solar power, energy efficiency and electric vehicle design, monitoring and maintenance services to homeowners, businesses, schools, non-profits, and government organizations in the United States. SolarCity is headquartered in San Mateo, California.”

Insitutional Activity: The institutional sentiment decreased to 0.77 in 2016 Q2. Its down 0.17, from 0.94 in 2016Q1. The ratio turned negative, as 51 funds sold all SolarCity Corp shares owned while 56 reduced positions. 18 funds bought stakes while 64 increased positions. They now own 41.81 million shares or 9.41% less from 46.16 million shares in 2016Q1.
Susquehanna Int Grp Llp last reported 297,767 shares in the company. Qs Ltd Company, a New York-based fund reported 15 shares. Moreover, D E Shaw & Communications has 0% invested in SolarCity Corp (NASDAQ:SCTY) for 13,240 shares. Creative Planning, a Kansas-based fund reported 24,860 shares. Great West Life Assurance Can reported 6,500 shares or 0% of all its holdings. Firsthand Cap Mgmt owns 10,500 shares or 0.28% of their US portfolio. Scotia reported 10,821 shares or 0.01% of all its holdings. Dimensional Fund Advisors Ltd Partnership has 187,143 shares for 0% of their US portfolio. Parametric Assocs Lc accumulated 17,060 shares or 0% of the stock. Johnson Investment Counsel holds 14,750 shares or 0.01% of its portfolio. American Group accumulated 0% or 2,189 shares. Architects Inc last reported 100 shares in the company. Raymond James & Associates reported 71,270 shares or 0.01% of all its holdings. Barclays Public Llc reported 255,097 shares or 0.01% of all its holdings. Jane Street Gru Ltd Liability Com holds 30,705 shares or 0% of its portfolio.

Insider Transactions: Since May 15, 2016, the stock had 0 insider purchases, and 5 selling transactions for $312,778 net activity. Weissman Seth R had sold 4,420 shares worth $105,588 on Monday, August 15. Barnard Hayden sold $69,762 worth of SolarCity Corp (NASDAQ:SCTY) on Sunday, May 15. Serra Tanguy also sold $64,624 worth of SolarCity Corp (NASDAQ:SCTY) on Monday, August 15.

More notable recent SolarCity Corp (NASDAQ:SCTY) news were published by: Marketwatch.com which released: “Elon Musk teases new products, says no need for Tesla, SolarCity to raise cash …” on October 09, 2016, also Postandcourier.com with their article: “Elon Musk’s SolarCity Corp. expands into the Charleston market” published on October 04, 2016, Fool.com published: “SolarCity Corporation’s Biggest Mistake in 2016 So Far” on September 23, 2016. More interesting news about SolarCity Corp (NASDAQ:SCTY) were released by: Profitconfidential.com and their article: “SCTY Stock: Ray Kurzweil’s Prediction is Huge for SolarCity Corp” published on September 16, 2016 as well as Bloomberg.com‘s news article titled: “SolarCity Accused of Taking Shingling Technology Secrets” with publication date: September 26, 2016.

SCTY Company Profile

SolarCity Corporation, incorporated on June 21, 2006, sells renewable energy. The Firm 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 Firm operates through solar energy services and products segment. The Firm integrates the sales, engineering, manufacturing, installation, monitoring, maintenance and financing of its distributed solar energy systems. It offers long-term energy solutions to residential, commercial, government and other customers. It offers its clients the option to either purchase and own solar energy systems or to purchase the energy that its solar energy systems produce through various contractual arrangements. The Firm installs solar energy system at its customer’s premises and charge the customer a monthly fee for the power that its system produces.

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