Share on StockTwits

SolarCity Corp (NASDAQ:SCTY) announced its earnings results on Wednesday. The company reported ($0.26) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.74) by $0.48, Analyst Ratings Network reports. The company had revenue of $63.54 million for the quarter, compared to the consensus estimate of $53.39 million. During the same quarter last year, the company posted ($0.41) earnings per share. SolarCity Corp’s revenue was up 111.9% compared to the same quarter last year.

SolarCity Corp (NASDAQ:SCTY) traded down 9.05% during mid-day trading on Wednesday, hitting $47.71. 9,631,884 shares of the company’s stock traded hands. SolarCity Corp has a 1-year low of $23.55 and a 1-year high of $88.35. The stock’s 50-day moving average is $59.05 and its 200-day moving average is $62.51. The company’s market cap is $4.366 billion. SolarCity Corp also saw unusually large options trading activity on Tuesday. Investors purchased 30,405 call options on the stock. This represents an increase of 173% compared to the typical volume of 11,155 call options.

SCTY has been the subject of a number of recent research reports. Analysts at Robert W. Baird reiterated a “positive” rating on shares of SolarCity Corp in a research note on Friday, May 2nd. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of SolarCity Corp in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $76.17.

In other SolarCity Corp news, CEO Lyndon R. Rive sold 120,000 shares of SolarCity Corp stock on the open market in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $54.16, for a total value of $6,499,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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.