SolarCity Corp EVP Seth R. Weissman Sells 7,000 Shares (SCTY)
SolarCity Corp (NASDAQ:SCTY) EVP Seth R. Weissman sold 7,000 shares of SolarCity Corp stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $71.79, for a total transaction of $502,530.00. Following the completion of the transaction, the executive vice president now directly owns 158,777 shares in the company, valued at approximately $11,398,601. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on SCTY shares. Analysts at S&P Equity Research reiterated a “sell” rating on shares of SolarCity Corp in a research note on Tuesday, August 19th. They now have a $39.46 price target on the stock, down previously from $47.65. Separately, analysts at Robert W. Baird downgraded shares of SolarCity Corp from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 19th. They now have a $83.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Morgan Stanley initiated coverage on shares of SolarCity Corp in a research note on Thursday, August 14th. They set an “equal weight” rating and a $92.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. SolarCity Corp currently has an average rating of “Hold” and a consensus price target of $82.95.
Shares of SolarCity Corp (NASDAQ:SCTY) traded up 0.93% on Monday, hitting $71.39. The stock had a trading volume of 2,110,791 shares. SolarCity Corp has a 52 week low of $28.31 and a 52 week high of $88.35. The stock has a 50-day moving average of $69.87 and a 200-day moving average of $64.73. The company’s market cap is $6.617 billion.
SolarCity Corp (NASDAQ:SCTY) last announced its earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.99) by $0.47. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $63.24 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. The company’s quarterly revenue was up 61.7% on a year-over-year basis. On average, analysts predict that SolarCity Corp will post $-3.99 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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