SolarCity Corp’s Trend Up, Especially After This Options Activity

 SolarCity Corp's Trend Up, Especially After This Options Activity

In today’s session SolarCity Corp (SCTY) registered an unusually high (5,364) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious SCTY increase. With 5,364 contracts traded and 9064 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SCTY161118C00022000 closed last at: $1 or 5.3% up. About 2.01 million shares traded hands. SolarCity Corp (NASDAQ:SCTY) has declined 8.63% since March 29, 2016 and is downtrending. It has underperformed by 12.11% 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”, 1 “Sell”, while 9 “Hold”. This means 47% are positive. $124 is the highest target while $24 is the lowest. The $56.65 average target is 181.84% above today’s ($20.1) stock price. SolarCity has been the topic of 41 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was initiated by Axiom Capital on Monday, October 19 with “Sell”. The company was downgraded on Tuesday, August 2 by Raymond James. The firm has “Mkt Perform” rating by Bernstein given on Friday, November 13. The company was maintained on Wednesday, August 26 by Roth Capital. Cowen & Co initiated the shares of SCTY in a report on Tuesday, August 25 with “Market Perform” rating. Roth Capital maintained SolarCity Corp (NASDAQ:SCTY) rating on Saturday, August 15. Roth Capital has “Buy” rating and $98 price target. The stock of SolarCity Corp (NASDAQ:SCTY) has “Equal-Weight” rating given on Thursday, August 27 by Morgan Stanley. The stock of SolarCity Corp (NASDAQ:SCTY) earned “Outperform” rating by Robert W. Baird on Thursday, June 9. On Thursday, February 11 the stock rating was downgraded by Barclays Capital to “Equal Weight”. The firm has “Buy” rating by TH Capital given on Sunday, November 1.

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 Q2 2016. 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.
Css Limited Liability Company Il has invested 0.01% of its portfolio in SolarCity Corp (NASDAQ:SCTY). Credit Suisse Ag accumulated 0.02% or 645,499 shares. Qcm Cayman Ltd, a Texas-based fund reported 21,249 shares. Moreover, Scotia has 0.01% invested in SolarCity Corp (NASDAQ:SCTY) for 10,821 shares. Alliancebernstein Ltd Partnership holds 0% or 35,755 shares in its portfolio. Ashfield Prtn Ltd Liability Corporation last reported 0.02% of its portfolio in the stock. Citadel Limited Liability Co has invested 0% of its portfolio in SolarCity Corp (NASDAQ:SCTY). Architects holds 0% of its portfolio in SolarCity Corp (NASDAQ:SCTY) for 100 shares. Qs Ltd Company has 0% invested in the company for 15 shares. Blackrock Advisors Lc has 0% invested in the company for 36,026 shares. Manufacturers Life Ins The holds 2,725 shares or 0% of its portfolio. Assetmark accumulated 38 shares or 0% of the stock. State Of Wisconsin Board last reported 0% of its portfolio in the stock. Amer Int Inc, a New York-based fund reported 2,189 shares. D Scott Neal Inc last reported 0.05% of its portfolio in the stock.

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

SolarCity Corporation sells renewable energy. The company has a market cap of $2.00 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: Investorplace.com which released: “SolarCity Corp (SCTY) Will Crash Tesla Motor Inc’s (TSLA) Party” on October 25, 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: Valuewalk.com and their article: “SolarCity Corp Raises $300 Million More Ahead Of Tesla Merger” published on October 18, 2016 as well as Marketwatch.com‘s news article titled: “Elon Musk teases new products, says no need for Tesla, SolarCity to raise cash …” with publication date: October 09, 2016.

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