J&p(china)capital Managementltd buys $6,785,974 stake in SolarCity Corp (SCTY)

SolarCity Corp (SCTY) : J&p(china)capital Managementltd scooped up 35,600 additional shares in SolarCity Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 286,328 shares of SolarCity Corp which is valued at $6,785,974.SolarCity Corp makes up approximately 1.91% of J&p(china)capital Managementltd’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Investment Management reduced its stake in SCTY by selling 11,438 shares or 6.33% in the most recent quarter. The Hedge Fund company now holds 169,203 shares of SCTY which is valued at $4,010,111.Teacher Retirement System Of Texas boosted its stake in SCTY in the latest quarter, The investment management firm added 1,650 additional shares and now holds a total of 8,848 shares of SolarCity Corp which is valued at $215,183.Commonwealth Equity Services Inc reduced its stake in SCTY by selling 483 shares or 4.51% in the most recent quarter. The Hedge Fund company now holds 10,227 shares of SCTY which is valued at $253,527.Evercore Wealth Management reduced its stake in SCTY by selling 145 shares or 22.48% in the most recent quarter. The Hedge Fund company now holds 500 shares of SCTY which is valued at $12,150.

SolarCity Corp opened for trading at $23.04 and hit $23.46 on the upside on Tuesday, eventually ending the session at $23.09, with a gain of 0.30% or 0.07 points. The heightened volatility saw the trading volume jump to 16,50,036 shares. Company has a market cap of $2,315 M.

On the company’s financial health, SolarCity Corp reported $-2.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-2.51. The company had revenue of $185.80 million for the quarter, compared to analysts expectations of $147.31 million. The company’s revenue was up 80.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.23 EPS.

Many Wall Street Analysts have commented on SolarCity Corp. Shares were Downgraded by Robert W. Baird on Aug 2, 2016 to ” Neutral” and Lowered the Price Target to $ 25 from a previous price target of $37 .SolarCity Corp was Downgraded by Raymond James to ” Mkt Perform” on Aug 2, 2016. SolarCity Corp was Downgraded by Credit Suisse to ” Neutral” on Jul 1, 2016.

SolarCity Corporation (SolarCity) sells renewable energy. The Company integrates the sales engineering installation monitoring maintenance and financing of its distributed solar energy systems. It offers long-term energy solutions to residential commercial and government customers. It offers its customers the option to either purchase and own solar energy systems or to purchase the energy that its solar energy systems produce through various contractual arrangements. The Company’s products services and technologies include solar energy systems customer agreements grid control / energy storage systems Zep solar mounting systems and software. The Company’s wholly owned subsidiary Zep Solar Inc. (Zep Solar) licenses its Zep Groove technology to photovoltaic module and power electronics manufacturers and supplies the Company with complementary mounting and grounding hardware. The Company served customers in 15 states and the District of Columbia United States.

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