Zacks Investment Research Downgrades Vivint Solar, Inc. (VSLR) to Hold
Vivint Solar, Inc. (NYSE:VSLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Vivint Solar Inc. is a provider of residential solar energy systems in the United States. It designs, installs, and maintains cost-effective solar energy systems. The Company also offers photovoltaic installation software products and devices. Vivint Solar, Inc. is headquartered in Provo, Utah. “
A number of other research firms also recently issued reports on VSLR. ValuEngine raised Vivint Solar from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Deutsche Bank AG downgraded Vivint Solar from a “buy” rating to a “hold” rating and set a $6.00 target price for the company. in a research report on Wednesday, August 9th. BidaskClub downgraded Vivint Solar from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Goldman Sachs Group, Inc. (The) raised Vivint Solar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $3.50 to $6.00 in a research report on Tuesday, June 20th. Finally, TheStreet raised Vivint Solar from a “d” rating to a “c” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $4.71.
Shares of Vivint Solar (NYSE:VSLR) traded down 1.33% on Thursday, reaching $3.70. The company’s stock had a trading volume of 15,220 shares. Vivint Solar has a 52-week low of $2.50 and a 52-week high of $6.09. The stock has a market cap of $423.52 million, a P/E ratio of 7.77 and a beta of -0.35. The firm’s 50 day moving average is $4.20 and its 200-day moving average is $4.05.
Vivint Solar (NYSE:VSLR) last released its earnings results on Tuesday, August 8th. The semiconductor company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.07. Vivint Solar had a negative return on equity of 26.46% and a net margin of 26.35%. The business had revenue of $73.00 million during the quarter, compared to the consensus estimate of $65.41 million. During the same period last year, the business posted $0.12 earnings per share. The business’s revenue for the quarter was up 109.2% on a year-over-year basis. On average, equities research analysts forecast that Vivint Solar will post ($1.48) EPS for the current year.
In other news, CEO David Bywater sold 35,000 shares of Vivint Solar stock in a transaction on Monday, July 17th. The stock was sold at an average price of $5.25, for a total value of $183,750.00. Following the completion of the transaction, the chief executive officer now directly owns 620,674 shares in the company, valued at $3,258,538.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas G. Plagemann sold 6,550 shares of Vivint Solar stock in a transaction on Monday, July 17th. The shares were sold at an average price of $5.45, for a total value of $35,697.50. Following the completion of the transaction, the executive vice president now owns 199,326 shares of the company’s stock, valued at $1,086,326.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 294,814 shares of company stock valued at $1,545,455. 4.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in VSLR. GCA Investment Management LLC purchased a new position in shares of Vivint Solar in the second quarter valued at $4,556,000. Vanguard Group Inc. grew its position in shares of Vivint Solar by 23.3% in the second quarter. Vanguard Group Inc. now owns 1,743,605 shares of the semiconductor company’s stock valued at $10,200,000 after purchasing an additional 329,748 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Vivint Solar by 235.2% in the first quarter. Parametric Portfolio Associates LLC now owns 201,415 shares of the semiconductor company’s stock valued at $564,000 after purchasing an additional 141,329 shares in the last quarter. Virtu KCG Holdings LLC grew its position in shares of Vivint Solar by 456.9% in the second quarter. Virtu KCG Holdings LLC now owns 161,804 shares of the semiconductor company’s stock valued at $947,000 after purchasing an additional 132,751 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Vivint Solar by 108.3% in the first quarter. Neuberger Berman Group LLC now owns 101,935 shares of the semiconductor company’s stock valued at $285,000 after purchasing an additional 53,000 shares in the last quarter. Institutional investors own 95.50% of the company’s stock.
About Vivint Solar
Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.
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