Stock Traders Purchase High Volume of Put Options on SolarCity Corp. (SCTY)
SolarCity Corp. (NASDAQ:SCTY) was the recipient of some unusual options trading on Thursday. Stock investors purchased 17,829 put options on the company, AmericanBankingNews.com reports. This is an increase of 221% compared to the typical volume of 5,560 put options.
In other SolarCity Corp. news, EVP Seth Weissman sold 7,000 shares of SolarCity Corp. stock on the open market in a transaction dated Friday, January 10th. The stock was sold at an average price of $66.58, for a total value of $466,060.00. Following the transaction, the executive vice president now directly owns 158,777 shares in the company, valued at approximately $10,571,373. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank initiated coverage on shares of SolarCity Corp. in a research note to investors on Thursday. They set a “buy” rating and a $90.00 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of SolarCity Corp. from $71.00 to $81.00 in a research note to investors on Thursday, January 9th. They now have an “outperform” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of SolarCity Corp. from a “neutral” rating to a “conviction-buy” rating in a research note to investors on Monday, January 6th. They now have a $80.00 price target on the stock, up previously from $65.00. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $76.83.
Shares of SolarCity Corp. (NASDAQ:SCTY) traded up 12.12% during mid-day trading on Thursday, hitting $76.80. 11,241,678 shares of the company’s stock traded hands. SolarCity Corp. has a 1-year low of $14.15 and a 1-year high of $69.91. The stock’s 50-day moving average is $56.91 and its 200-day moving average is $45.92. The company’s market cap is $6.384 billion.
SolarCity Corp. (NASDAQ:SCTY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.04. The company had revenue of $48.60 million for the quarter, compared to the consensus estimate of $41.40 million. The company’s revenue for the quarter was up 52.0% on a year-over-year basis. Analysts expect that SolarCity Corp. will post $-1.78 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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