Today, Brokerages give average Rating of “Hold” to SolarCity Corp. (SCTY)

Today, Brokerages give average Rating of “Hold” to SolarCity Corp. (SCTY)
Shares of SolarCity Corp. (NASDAQ:SCTY) have been assigned an average recommendation of “Hold” from the twenty-two ratings firms that are presently covering the company. Three equities research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $28.38.

SCTY has been the subject of a number of analyst reports. Guggenheim lowered SolarCity Corp. from a “buy” rating to a “neutral” rating in a research report on Monday, August 1st. Roth Capital reaffirmed a “neutral” rating and set a $19.00 price objective on shares of SolarCity Corp. in a research report on Tuesday, August 2nd. Raymond James Financial Inc. lowered SolarCity Corp. from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Robert W. Baird lowered SolarCity Corp. from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $37.00 to $25.00 in a research report on Tuesday, August 2nd. Finally, Avondale Partners lowered SolarCity Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 3rd.

In other news, EVP Seth R. Weissman sold 2,883 shares of SolarCity Corp. stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $19.72, for a total value of $56,852.76. Following the sale, the executive vice president now directly owns 64,650 shares of the company’s stock, valued at $1,274,898. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 36.40% of the stock is owned by insiders.

Several large investors have recently modified their holdings of SCTY. Legal & General Group Plc boosted its stake in shares of 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 period. KBC Group NV purchased a new stake in shares of SolarCity Corp. during the second quarter valued at about $122,000. Cubist Systematic Strategies LLC boosted its stake 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 period. PNC Financial Services Group Inc. boosted its stake in shares of 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 valued at $129,000 after buying an additional 2,250 shares during the period. Finally, Advisor Group Inc. boosted its stake in shares of SolarCity Corp. by 14.8% in the third quarter. Advisor Group Inc. now owns 7,962 shares of the renewable energy company’s stock valued at $156,000 after buying an additional 1,029 shares during the period. 40.00% of the stock is currently owned by hedge funds and other institutional investors.

SolarCity Corp. (NASDAQ:SCTY) remained flat at $20.34 on Friday. The firm’s 50 day moving average price is $19.91 and its 200-day moving average price is $21.59. The stock’s market capitalization is $2.05 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 earnings results on Wednesday, November 9th. The renewable energy company reported ($2.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.29) by $0.02. SolarCity Corp. had a negative return on equity of 62.02% and a negative net margin of 3.63%. The firm earned $200.60 million during the quarter. During the same period in the prior year, the company posted ($0.20) EPS. The firm’s revenue was up 76.1% on a year-over-year basis. On average, equities analysts expect that SolarCity Corp. will post ($9.10) EPS for the current year.

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