Vetr upgraded shares of SolarCity Corp. (NASDAQ:SCTY) from a hold rating to a buy rating in a research report sent to investors on Monday morning. They currently have $20.26 target price on the renewable energy company’s stock.

Other equities research analysts also recently issued reports about the stock. Avondale Partners downgraded shares of SolarCity Corp. from an outperform rating to a market perform rating in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. reissued a neutral rating and issued a $23.00 price target on shares of SolarCity Corp. in a report on Wednesday, June 22nd. Barclays PLC reissued a sell rating on shares of SolarCity Corp. in a report on Wednesday, June 22nd. JPMorgan Chase & Co. reissued a neutral rating and issued a $25.00 price target on shares of SolarCity Corp. in a report on Wednesday, June 22nd. Finally, Raymond James Financial Inc. reissued a hold rating and issued a $50.00 price target on shares of SolarCity Corp. in a report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $30.12.

Shares of SolarCity Corp. (NASDAQ:SCTY) opened at 19.93 on Monday. The firm’s 50-day moving average is $19.41 and its 200-day moving average is $23.34. SolarCity Corp. has a 12-month low of $16.20 and a 12-month high of $58.87. The company’s market capitalization is $2.00 billion.

SolarCity Corp. (NASDAQ:SCTY) last announced its quarterly earnings results on Tuesday, August 9th. The renewable energy company reported ($2.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had revenue of $185.80 million for the quarter, compared to the consensus estimate of $141.57 million. During the same period in the prior year, the firm posted ($0.23) earnings per share. The company’s revenue for the quarter was up 80.7% on a year-over-year basis. On average, equities analysts predict that SolarCity Corp. will post ($9.92) EPS for the current year.

In other SolarCity Corp. news, EVP Seth R. Weissman sold 4,420 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $23.89, for a total value of $105,593.80. Following the completion of the transaction, the executive vice president now directly owns 66,570 shares in the company, valued at approximately $1,590,357.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tanguy Serra sold 2,724 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $23.72, for a total value of $64,613.28. Following the completion of the transaction, the chief financial officer now owns 27,437 shares of the company’s stock, valued at $650,805.64. The disclosure for this sale can be found here. 36.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SCTY. Legal & General Group Plc increased its position in SolarCity Corp. by 4.0% in the second quarter. Legal & General Group Plc now owns 4,480 shares of the renewable energy company’s stock valued at $107,000 after buying an additional 174 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in SolarCity Corp. by 1.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 15,126 shares of the renewable energy company’s stock valued at $362,000 after buying an additional 201 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in SolarCity Corp. by 1.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 15,227 shares of the renewable energy company’s stock valued at $364,000 after buying an additional 227 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in SolarCity Corp. by 2.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,745 shares of the renewable energy company’s stock valued at $412,000 after buying an additional 445 shares during the last quarter. Finally, Shinko Asset Management Co. Ltd. increased its position in SolarCity Corp. by 7.0% in the second quarter. Shinko Asset Management Co. Ltd. now owns 15,488 shares of the renewable energy company’s stock valued at $371,000 after buying an additional 1,007 shares during the last quarter. Institutional investors and hedge funds 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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