The stock of SolarCity Corp (NASDAQ:SCTY) is a huge mover today! About 6.01M shares traded hands or 121.77% up from the average. SolarCity Corp (NASDAQ:SCTY) has declined 25.80% since April 4, 2016 and is downtrending. It has underperformed by 26.89% the S&P500.
The move comes after 7 months positive chart setup for the $2.05B company. It was reported on Nov, 4 by Barchart.com. We have $30.24 PT which if reached, will make NASDAQ:SCTY worth $984.00 million more.
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. On Wednesday, October 7 the stock rating was maintained by UBS with “Neutral”. The rating was initiated by Oppenheimer on Wednesday, September 9 with “Outperform”. The rating was downgraded by Barclays Capital to “Equal Weight” on Thursday, February 11. Bernstein upgraded the shares of SCTY in a report on Thursday, December 17 to “Outperform” rating. The company was initiated on Friday, November 13 by Bernstein. Barclays Capital downgraded the stock to “Underweight” rating in Monday, June 20 report. The stock of SolarCity Corp (NASDAQ:SCTY) has “Outperform” rating given on Thursday, July 30 by Northland Capital. Stifel Nicolaus initiated it with “Buy” rating and $64.0 target price in Thursday, September 24 report. Morgan Stanley maintained SolarCity Corp (NASDAQ:SCTY) rating on Wednesday, May 11. Morgan Stanley has “Overweight” rating and $34 price target. The stock of SolarCity Corp (NASDAQ:SCTY) has “Buy” rating given on Friday, May 27 by Deutsche Bank.
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 worsened, 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.
Moreover, Citadel Lc has 0% invested in SolarCity Corp (NASDAQ:SCTY) for 16,424 shares. Daiwa Securities Gru holds 72,452 shares or 0.01% of its portfolio. Rhumbline Advisers accumulated 0% or 47,089 shares. D Scott Neal Incorporated holds 0.05% of its portfolio in SolarCity Corp (NASDAQ:SCTY) for 2,395 shares. Bnp Paribas Arbitrage has 307,024 shares for 0.03% of their US portfolio. Glenmede Communication Na owns 3,946 shares or 0% of their US portfolio. The Florida-based Raymond James And Assoc has invested 0.01% in SolarCity Corp (NASDAQ:SCTY). New York State Common Retirement Fund holds 0.01% of its portfolio in SolarCity Corp (NASDAQ:SCTY) for 162,700 shares. Moreover, Qcm Cayman Limited has 0.22% invested in SolarCity Corp (NASDAQ:SCTY) for 21,249 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has 3,296 shares for 0% of their US portfolio. Polar Asset Mngmt Prns Inc reported 40,000 shares or 0.04% of all its holdings. Harbourvest Prtnrs Ltd Limited Liability Company has invested 0.76% of its portfolio in SolarCity Corp (NASDAQ:SCTY). Susquehanna Gru Limited Liability Partnership accumulated 297,767 shares or 0% of the stock. Cubist Systematic Strategies Lc accumulated 0.01% or 5,208 shares. North Star Mngmt Corporation has 600 shares for 0% of their US portfolio.
Insider Transactions: Since May 15, 2016, the stock had 0 insider buys, and 5 selling transactions for $312,778 net activity. The insider Weissman Seth R sold $105,588. Another trade for 2,724 shares valued at $64,624 was sold by Serra Tanguy. Barnard Hayden sold $69,762 worth of stock.
More notable recent SolarCity Corp (NASDAQ:SCTY) news were published by: Wsj.com which released: “Proxy Service ISS Endorses Proposed Tesla, SolarCity Deal” on November 04, 2016, also Reuters.com with their article: “Tesla says SolarCity would add $1 billion to 2017 revenue” published on November 01, 2016, Fool.com published: “No Capital Needed: How SolarCity Corp. Could Help Tesla Motors Inc.” on October 11, 2016. More interesting news about SolarCity Corp (NASDAQ:SCTY) were released by: Marketwatch.com and their article: “Elon Musk teases new products, says no need for Tesla, SolarCity to raise cash …” published on October 09, 2016 as well as Valuewalk.com‘s news article titled: “Tesla Motors Inc, SolarCity Corp Merger Details Will Be Announced Today” with publication date: November 01, 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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