SolarCity Corp. Sees Unusually High Options Volume (SCTY)
SolarCity Corp. (NASDAQ:SCTY) was the target of unusually large options trading on Wednesday. Stock investors acquired 8,200 put options on the company, StockRatingsNetwork.com reports. This is an increase of approximately 128% compared to the average daily volume of 3,592 put options.
A number of research firms have recently commented on SCTY. Analysts at Roth Capital raised their price target on shares of SolarCity Corp. (NASDAQ:SCTY) from $30.00 to $42.00 in a research note to investors on Thursday, August 8th. They now have a “neutral” rating on the stock. Separately, analysts at Maxim Group initiated coverage on shares of SolarCity Corp. (NASDAQ:SCTY) in a research note to investors on Tuesday, July 9th. They set a “hold” rating on the stock. Finally, analysts at Credit Suisse upgraded shares of SolarCity Corp. (NASDAQ:SCTY) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, June 14th. They now have a $52.00 price target on the stock, up previously from $28.00.
Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $35.00.
Shares of SolarCity Corp. (NASDAQ:SCTY) traded down 2.68% on Wednesday, hitting $35.60. 6,014,150 shares of the company’s stock traded hands. SolarCity Corp. has a 52-week low of $9.20 and a 52-week high of $52.77. The stock’s 50-day moving average is $36.6 and its 200-day moving average is $31.35. The company’s market cap is $2.787 billion.
SolarCity Corp. (NASDAQ:SCTY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by $0.05. The company had revenue of $46.60 million for the quarter, compared to the consensus estimate of $27.44 million. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. On average, analysts predict that SolarCity Corp. will post $-1.77 earnings per share for the current fiscal year.
SolarCity Corporation (NASDAQ:SCTY) is engaged in the design, 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.