So far so good for SolarCity Corp (NASDAQ:SCTY)

Posted by Kristi Scott September 17, 2013 0 Comment 1874 views

On Friday, SolarCity Corp (NASDAQ:SCTY) saw some unusual options-trading activity. Stock traders bought 16,776 call-options on the company. This is a rise of around 150% in comparison to the typical-volume of 6,706 call options. Recently, numerous analysts have weighed on the company stock. Roth Capital analysts hiked their price-target on the shares from $30.00 to $42.00 on 8 August and have assigned a “neutral” rating on the stock.

Maxim Group analysts set a “hold” rating in the stock on 9 July. Five research analysts have assigned a “hold” rating on the stock while 2 have assigned a “buy” rating. The average rating on the stock is “hold” and the average price-target is $35.00.

Monday’s trading

In Monday’s trading session, SolarCity Corp (NASDAQ:SCTY) stock rose by 4.70%. The opening price of the shares was $35.30 which rose to an intraday high of $36.93 and closed at $35.84. Approximately 3.65 million shares were traded on Monday and the average volume of shares traded over a period of 30 days was 2.64 million. The company has a market capitalization of $2.70 billion.

Quarterly earnings

The company last issued its quarterly-earnings data on 7 August. It reported an EPS of $0.43 for the quarter which fell under analyst estimates of $0.38 by $0.05. The company’s revenue for the quarter was $46.60 million in comparison to the average analyst estimate of $27.44 million. There was an 18.7% dip in the quarterly-revenue on a y-o-y basis. Analysts are projecting that SolarCity Corp (NASDAQ:SCTY) will post an earnings per share of $1.77 for the 2013 fiscal year.

The company

The company is involved in leasing solar-energy systems to commercial and residential customers. They also sell electricity that has been generated by solar-energy systems to their customers. Its energy-efficiency services and products include home-energy evaluation and energy-efficiency upgrades. It sells home-energy efficiency evaluations to existing and new solar-energy system customers.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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