Investors Purchase High Volume of SolarCity Corp Call Options (SCTY)
SolarCity Corp (NASDAQ:SCTY) was the recipient of some unusual options trading on Tuesday. Traders bought 75,140 call options on the stock, Analyst RN reports. This represents an increase of 403% compared to the average daily volume of 14,939 call options.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of SolarCity Corp from $75.00 to $80.00 in a research note on Friday, May 9th. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of SolarCity Corp in a research note on Thursday, May 8th. They now have a $75.00 price target on the stock. Finally, analysts at Roth Capital upgraded shares of SolarCity Corp from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $80.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $79.25.
Shares of SolarCity Corp (NASDAQ:SCTY) traded up 17.58% during mid-day trading on Tuesday, hitting $64.53. The stock had a trading volume of 24,099,338 shares. SolarCity Corp has a 52-week low of $28.31 and a 52-week high of $88.35. The stock’s 50-day moving average is $51.82 and its 200-day moving average is $62.03. The company’s market cap is $5.943 billion.
SolarCity Corp (NASDAQ:SCTY) last released its earnings data on Wednesday, May 7th. The company reported ($0.26) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.74) by $0.48. 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. On average, analysts predict that SolarCity Corp will post $-3.93 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.
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