SolarCity Corp. Target of Unusually High Options Trading (SCTY)
SolarCity Corp. (NASDAQ:SCTY) saw some unusual options trading on Thursday. Investors purchased 16,776 call options on the company, Stock Ratings Network.com reports. This represents an increase of approximately 173% compared to the average volume of 6,148 call 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. 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.
Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $35.00.
Shares of SolarCity Corp. (NASDAQ:SCTY) traded down 3.58% on Friday, hitting $34.52. The stock had a trading volume of 959,500 shares. SolarCity Corp. has a one year low of $9.20 and a one year high of $52.77. The stock has a 50-day moving average of $36.41 and a 200-day moving average of $31.41. The company’s market cap is $2.702 billion.
SolarCity Corp. (NASDAQ:SCTY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.43) EPS for the quarter, missing the Thomson Reuters 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. Analysts expect that SolarCity Corp. will post $-1.77 EPS 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.
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