SolarCity Corp. (NASDAQ:SCTY)‘s stock had its “hold” rating restated by Axiom Securities in a report issued on Thursday.

Other equities analysts have also issued research reports about the stock. Oppenheimer Holdings Inc. restated a “buy” rating and set a $26.00 target price (down previously from $27.00) on shares of SolarCity Corp. in a research report on Tuesday, June 21st. Credit Suisse Group AG restated a “buy” rating on shares of SolarCity Corp. in a research report on Wednesday, June 8th. Guggenheim restated a “buy” rating on shares of SolarCity Corp. in a research report on Wednesday, June 22nd. Robert W. Baird restated a “buy” rating and set a $37.00 target price on shares of SolarCity Corp. in a research report on Tuesday, July 12th. Finally, Vetr lowered shares of SolarCity Corp. from a “strong-buy” rating to a “buy” rating and set a $21.84 target price for the company. in a research report on Monday, September 26th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $30.12.

Analyst Recommendations for SolarCity Corp. (NASDAQ:SCTY)

Shares of SolarCity Corp. (NASDAQ:SCTY) opened at 20.05 on Thursday. SolarCity Corp. has a one year low of $16.20 and a one year high of $58.87. The firm has a 50-day moving average of $19.78 and a 200-day moving average of $23.44. The company’s market cap is $2.01 billion.

SolarCity Corp. (NASDAQ:SCTY) last issued its earnings results on Tuesday, August 9th. The renewable energy company reported ($2.32) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.44) by $0.12. SolarCity Corp. had a negative net margin of 17.65% and a negative return on equity of 64.78%. The firm earned $185.80 million during the quarter, compared to analyst estimates of $141.57 million. During the same quarter in the prior year, the business earned ($0.23) earnings per share. SolarCity Corp.’s revenue for the quarter was up 80.7% on a year-over-year basis. Equities research analysts forecast that SolarCity Corp. will post ($9.92) EPS for the current fiscal year.

In other SolarCity Corp. news, EVP Seth R. Weissman sold 4,420 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $23.89, for a total transaction of $105,593.80. Following the transaction, the executive vice president now directly owns 66,570 shares in the company, valued at approximately $1,590,357.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tanguy Serra sold 2,724 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $23.72, for a total transaction of $64,613.28. Following the transaction, the chief financial officer now owns 27,437 shares in the company, valued at $650,805.64. The disclosure for this sale can be found here. 36.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of SolarCity Corp. by 114.7% in the first quarter. Legal & General Group Plc now owns 4,306 shares of the renewable energy company’s stock valued at $106,000 after buying an additional 2,300 shares during the last quarter. KBC Group NV acquired a new position in shares of SolarCity Corp. during the second quarter valued at about $122,000. Cubist Systematic Strategies LLC boosted its position in shares of SolarCity Corp. by 62.7% in the second quarter. Cubist Systematic Strategies LLC now owns 5,208 shares of the renewable energy company’s stock valued at $125,000 after buying an additional 2,007 shares during the last quarter. Seven Eight Capital LLC boosted its position in shares of SolarCity Corp. by 1,553.2% in the first quarter. Seven Eight Capital LLC now owns 6,431 shares of the renewable energy company’s stock valued at $158,000 after buying an additional 6,042 shares during the last quarter. Finally, Advisor Group Inc. acquired a new position in shares of SolarCity Corp. during the second quarter valued at about $163,000. Institutional investors own 42.87% of the company’s stock.

SolarCity Corp. Company Profile

SolarCity Corporation sells renewable energy. The Company 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 Company operates through solar energy products and services segment.

5 Day Chart for NASDAQ:SCTY

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