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