SolarCity Corp. Sees Unusually Large Options Volume (SCTY)
Shares of SolarCity Corp. (NASDAQ:SCTY) was the recipient of some unusual options trading activity on Friday. Investors bought 9,374 put options on the company, American Banking and Market News reports. This represents an increase of approximately 117% compared to the average volume of 4,320 put options.
A number of analysts have recently weighed in on SCTY shares. 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 stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.00.
SolarCity Corp. (NASDAQ:SCTY) traded up 3.21% on Monday, hitting $35.33. The stock had a trading volume of 482,472 shares. 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 $36.24 and its 200-day moving average is $31.52. The company’s market cap is $2.766 billion.
SolarCity Corp. (NASDAQ:SCTY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.43) earnings per share for the quarter, missing the analysts’ 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. SolarCity Corp.’s revenue was down 18.7% compared to the same quarter last year. 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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