Major Move Is Coming For SolarCity Corp After Bullish Options Activity

 Major Move Is Coming For SolarCity Corp After Bullish Options Activity

In today’s session SolarCity Corp (SCTY) registered an unusually high (1,147) 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 1,147 contracts traded and 42764 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: SCTY161021C00020000 closed last at: $0.55 or 0% . About 813,572 shares traded hands. SolarCity Corp (NASDAQ:SCTY) has declined 28.21% since March 15, 2016 and is downtrending. It has underperformed by 33.69% the S&P500.

Analysts await SolarCity Corp (NASDAQ:SCTY) to report earnings on November, 3. They expect $-2.18 EPS, down 3.81% or $0.08 from last year’s $-2.1 per share. After $-2.32 actual EPS 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. The stock of SolarCity Corp (NASDAQ:SCTY) earned “Overweight” rating by Morgan Stanley on Monday, December 21. Avondale upgraded SolarCity Corp (NASDAQ:SCTY) on Tuesday, June 28 to “Market Outperform” rating. The firm earned “Buy” rating on Wednesday, August 26 by Roth Capital. The company was upgraded on Tuesday, August 25 by Zacks. The rating was initiated by Oppenheimer with “Outperform” on Wednesday, September 9. The rating was maintained by Roth Capital with “Buy” on Monday, October 26. The stock of SolarCity Corp (NASDAQ:SCTY) has “Buy” rating given on Thursday, September 24 by Stifel Nicolaus. As per Friday, May 27, the company rating was maintained by Deutsche Bank. The rating was downgraded by Morgan Stanley on Thursday, June 23 to “Equal-Weight”. The company was upgraded on Thursday, October 6 by Axiom Capital.

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 dropped, 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.
The Massachusetts-based Harbourvest Prtnrs Limited Liability Co has invested 0.76% in SolarCity Corp (NASDAQ:SCTY). Ameriprise last reported 29,025 shares in the company. Winfield Associate has 15 shares for 0% of their US portfolio. Trillium Asset Management Ltd Liability Corp accumulated 0.04% or 25,739 shares. Mizuho Usa has 47,200 shares for 0.18% of their US portfolio. The New York-based Millennium Ltd Llc has invested 0.01% in SolarCity Corp (NASDAQ:SCTY). Coatue Mgmt Ltd holds 0.16% of its portfolio in SolarCity Corp (NASDAQ:SCTY) for 455,377 shares. Dimensional Fund Lp holds 187,143 shares or 0% of its portfolio. Mycio Wealth Prtn Limited Liability Company last reported 0% of its portfolio in the stock. Geode Cap Limited Com holds 0.01% of its portfolio in SolarCity Corp (NASDAQ:SCTY) for 439,762 shares. Sg Americas Securities Ltd Com last reported 0.02% of its portfolio in the stock. Schwab Charles Investment Mgmt holds 0% of its portfolio in SolarCity Corp (NASDAQ:SCTY) for 63,079 shares. Moreover, Tower Limited Liability Company (Trc) has 0.01% invested in SolarCity Corp (NASDAQ:SCTY) for 2,747 shares. Citadel Advsrs Limited Co accumulated 0% or 16,424 shares. Checchi Advisers Limited Liability has 0% invested in the company for 1,115 shares.

Insider Transactions: Since May 15, 2016, the stock had 0 insider purchases, and 5 sales for $312,778 net activity. The insider Serra Tanguy sold $64,624. The insider Weissman Seth R sold 940 shares worth $19,129. The insider Barnard Hayden sold $69,762.

SolarCity Corporation sells renewable energy. The company has a market cap of $1.98 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.

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.

More notable recent SolarCity Corp (NASDAQ:SCTY) news were published by: Valuewalk.com which released: “SolarCity Corp Raises $300 Million More Ahead Of Tesla Merger” on October 18, 2016, also Fool.com with their article: “No Capital Needed: How SolarCity Corp. Could Help Tesla Motors Inc.” published on October 11, 2016, Postandcourier.com published: “Elon Musk’s SolarCity Corp. expands into the Charleston market” on October 04, 2016. More interesting news about SolarCity Corp (NASDAQ:SCTY) were released by: Fool.com and their article: “SolarCity Corporation’s Biggest Mistake in 2016 So Far” published on September 23, 2016 as well as Bloomberg.com‘s news article titled: “SolarCity Accused of Taking Shingling Technology Secrets” with publication date: September 26, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment