SolarCity Corp. (NASDAQ:SCTY) was downgraded by analysts at Axiom Securities from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other brokerages have also commented on SCTY. Guggenheim lowered shares of SolarCity Corp. from a “buy” rating to a “neutral” rating in a research note on Monday, August 1st. Robert W. Baird restated an “outperform” rating and issued a $37.00 price target on shares of SolarCity Corp. in a research note on Wednesday, July 20th. Roth Capital restated a “neutral” rating and issued a $19.00 price target on shares of SolarCity Corp. in a research note on Tuesday, August 2nd. Raymond James Financial Inc. lowered shares of SolarCity Corp. from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, August 2nd. Finally, Avondale Partners cut shares of SolarCity Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $29.56.

Analyst Recommendations for SolarCity Corp. (NASDAQ:SCTY)

SolarCity Corp. (NASDAQ:SCTY) opened at 19.82 on Wednesday. The company’s 50 day moving average price is $19.88 and its 200 day moving average price is $21.74. The firm’s market capitalization is $2.00 billion. SolarCity Corp. has a 12 month low of $16.20 and a 12 month high of $58.87.

SolarCity Corp. (NASDAQ:SCTY) last announced its quarterly earnings results on Wednesday, November 9th. The renewable energy company reported ($2.27) EPS for the quarter, beating the consensus estimate of ($2.29) by $0.02. SolarCity Corp. had a negative net margin of 3.63% and a negative return on equity of 62.02%. The company had revenue of $200.60 million for the quarter. During the same quarter in the previous year, the business posted ($0.20) EPS. SolarCity Corp.’s revenue for the quarter was up 76.1% compared to the same quarter last year. Analysts anticipate that SolarCity Corp. will post ($9.31) EPS for the current year.

A number of institutional investors have recently bought and sold shares of SCTY. Legal & General Group Plc increased its stake 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 worth $107,000 after buying an additional 174 shares during the last quarter. KBC Group NV bought a new stake in SolarCity Corp. during the second quarter worth about $122,000. Cubist Systematic Strategies LLC increased its stake in 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 worth $125,000 after buying an additional 2,007 shares during the last quarter. Seven Eight Capital LLC increased its stake in 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 worth $158,000 after buying an additional 6,042 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in SolarCity Corp. by 51.5% in the third quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the renewable energy company’s stock worth $129,000 after buying an additional 2,250 shares during the last quarter. 39.24% of the stock is owned by hedge funds and other institutional investors.

About SolarCity Corp.

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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