Vivint Solar Inc. (VSLR) Rating Increased to Neutral at Goldman Sachs Group Inc.
Vivint Solar Inc. (NYSE:VSLR) was upgraded by investment analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a note issued to investors on Thursday.
Several other research firms have also recently issued reports on VSLR. Zacks Investment Research upgraded shares of Vivint Solar from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Friday, August 12th. Credit Suisse Group AG reiterated a “hold” rating on shares of Vivint Solar in a research note on Wednesday, June 8th. Oppenheimer Holdings Inc. began coverage on shares of Vivint Solar in a research note on Monday, June 20th. They issued a “market perform” rating for the company. JMP Securities began coverage on shares of Vivint Solar in a research note on Thursday, September 8th. They issued a “market perform” rating and a $9.00 target price for the company. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $6.00 target price (down from $7.50) on shares of Vivint Solar in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Vivint Solar has an average rating of “Hold” and an average price target of $5.34.
Shares of Vivint Solar (NYSE:VSLR) remained flat at $3.18 during trading on Thursday. The company’s stock had a trading volume of 377,527 shares. The stock’s 50-day moving average price is $3.14 and its 200-day moving average price is $3.01. The firm’s market cap is $342.53 million. Vivint Solar has a one year low of $2.16 and a one year high of $12.85.
Vivint Solar (NYSE:VSLR) last posted its earnings results on Monday, August 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.09. Vivint Solar had a negative net margin of 34.83% and a negative return on equity of 36.38%. The firm earned $34.90 million during the quarter, compared to analysts’ expectations of $24.98 million. During the same period in the previous year, the business posted $0.13 EPS. The business’s revenue was up 116.6% compared to the same quarter last year. Analysts expect that Vivint Solar will post ($2.04) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in VSLR. Schroder Investment Management Group acquired a new stake in Vivint Solar during the second quarter worth about $276,000. State Street Corp raised its stake in Vivint Solar by 21.2% in the first quarter. State Street Corp now owns 308,901 shares of the company’s stock worth $817,000 after buying an additional 54,085 shares during the last quarter. Geode Capital Management LLC raised its stake in Vivint Solar by 1.2% in the first quarter. Geode Capital Management LLC now owns 140,623 shares of the company’s stock worth $372,000 after buying an additional 1,735 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Vivint Solar during the first quarter worth about $1,308,000. Finally, Royal Bank of Canada raised its stake in Vivint Solar by 325,987.0% in the first quarter. Royal Bank of Canada now owns 150,000 shares of the company’s stock worth $398,000 after buying an additional 149,954 shares during the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.
About Vivint Solar
Vivint Solar, Inc primarily offers distributed solar energy, which is electricity generated by a solar energy system installed at or near customers’ locations to residential customers based on over 20-year contracts. The Company operates through two operating segments: Residential, and commercial and industrial market (C&I).
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