What’s SolarCity Corp Upside After Today’s Bullish Options Activity?

 What's SolarCity Corp Upside After Today's Bullish Options Activity?

In today’s session SolarCity Corp (SCTY) registered an unusually high (1,045) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious SCTY increase. With 1,045 contracts traded and 12904 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: SCTY161021C00021000 closed last at: $0.5 or 12.3% down. About 2.02M shares traded hands. SolarCity Corp (NASDAQ:SCTY) has risen 11.88% since March 1, 2016 and is uptrending. It has outperformed by 2.64% the S&P500.

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”, 2 “Sell”, while 8 “Hold”. This means 47% are positive. $124 is the highest target while $24 is the lowest. The $56.65 average target is 186.11% above today’s ($19.8) stock price. SolarCity has been the topic of 40 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Morgan Stanley maintained the stock with “Overweight” rating in Wednesday, May 11 report. The rating was maintained by TH Capital on Sunday, November 1 with “Buy”. The firm has “Equal-Weight” rating given on Thursday, June 23 by Morgan Stanley. The rating was maintained by Canaccord Genuity on Thursday, July 30 with “Buy”. The rating was downgraded by Bank of America to “Neutral” on Tuesday, May 10. The stock of SolarCity Corp (NASDAQ:SCTY) has “Outperform” rating given on Friday, October 30 by Oppenheimer. The firm has “Buy” rating given on Friday, May 27 by Deutsche Bank. The stock of SolarCity Corp (NASDAQ:SCTY) has “Neutral” rating given on Tuesday, February 23 by JP Morgan. The firm earned “Outperform” rating on Wednesday, September 9 by Oppenheimer. The rating was downgraded by Barclays Capital to “Underweight” on Monday, June 20.

Insitutional Activity: The institutional sentiment decreased to 0.77 in 2016 Q2. Its down 0.17, from 0.94 in 2016Q1. The ratio fall, 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.
National Bank & Trust Of America De last reported 933,364 shares in the company. The Switzerland-based Credit Suisse Ag has invested 0.02% in SolarCity Corp (NASDAQ:SCTY). Dimensional Fund Advsrs Lp has 187,143 shares for 0% of their US portfolio. Teacher Retirement System Of Texas owns 8,848 shares or 0% of their US portfolio. Ashfield Ltd Liability Company has 10,248 shares for 0.02% of their US portfolio. Qvt Fincl Lp last reported 0.67% of its portfolio in the stock. Ameriprise Financial holds 29,025 shares or 0% of its portfolio. Wolverine Asset Management Ltd Liability Corp last reported 0.05% of its portfolio in the stock. Great West Life Assurance Co Can holds 6,500 shares or 0% of its portfolio. Schroder Management Grp accumulated 2,278 shares or 0% of the stock. Antipodean Advsr Lc, a New York-based fund reported 119,000 shares. Dnb Asset Management As has invested 0% of its portfolio in SolarCity Corp (NASDAQ:SCTY). Hutchin Hill Lp holds 0.06% or 75,000 shares in its portfolio. Hsbc Public Ltd Limited Liability Company owns 17,333 shares or 0% of their US portfolio. Van Eck Associate has 0.02% invested in the company for 123,996 shares.

Insider Transactions: Since May 15, 2016, the stock had 0 insider buys, and 5 selling transactions for $312,778 net activity. Barnard Hayden sold $69,762 worth of stock or 3,428 shares. $105,588 worth of SolarCity Corp (NASDAQ:SCTY) was sold by Weissman Seth R on Monday, August 15. Serra Tanguy sold $64,624 worth of SolarCity Corp (NASDAQ:SCTY) on Monday, August 15.

SolarCity Corporation sells renewable energy. The company has a market cap of $2.04 billion. 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. It currently has negative earnings. The Firm operates through solar energy services and products segment.

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