SolarCity Corp (SCTY) : Mizuho Securities Usa reduced its stake in SolarCity Corp by 99.22% during the most recent quarter end. The investment management company now holds a total of 100 shares of SolarCity Corp which is valued at $3,334 after selling 12,700 shares in SolarCity Corp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.
SolarCity Corp opened for trading at $32.99 and hit $34.44 on the upside on Wednesday, eventually ending the session at $33.31, with a gain of 0.94% or 0.31 points. The heightened volatility saw the trading volume jump to 49,13,029 shares. Company has a market cap of $3,261 M.
Other Hedge Funds, Including , Advisory Services Network boosted its stake in SCTY in the latest quarter, The investment management firm added 38 additional shares and now holds a total of 44 shares of SolarCity Corp which is valued at $1,467.Horizon Kinetics boosted its stake in SCTY in the latest quarter, The investment management firm added 8,413 additional shares and now holds a total of 19,097 shares of SolarCity Corp which is valued at $554,577. SolarCity Corp makes up approx 0.01% of Horizon Kinetics’s portfolio. Gemmer Asset Management added SCTY to its portfolio by purchasing 30,000 company shares during the most recent quarter which is valued at $871,200. SolarCity Corp makes up approx 0.50% of Gemmer Asset Management’s portfolio.Benjamin F. Edwards Company reduced its stake in SCTY by selling 35 shares or 14.89% in the most recent quarter. The Hedge Fund company now holds 200 shares of SCTY which is valued at $5,808.
On the company’s financial health, SolarCity Corp reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 2.63 according to the earnings call on Feb 9, 2016. Analyst had a consensus of $-2.59. The company had revenue of $115.48 million for the quarter, compared to analysts expectations of $105.67 million. The company’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.47 EPS.
Many Wall Street Analysts have commented on SolarCity Corp. Shares were Reiterated by Stifel on Apr 4, 2016 to “Buy” and Lowered the Price Target to $ 56 from a previous price target of $65 .Shares were Reiterated by Morgan Stanley on Mar 1, 2016 to “Overweight” and Lowered the Price Target to $ 52 from a previous price target of $78 .Shares were Downgraded by JP Morgan on Feb 23, 2016 to ” Neutral” and Lowered the Price Target to $ 29 from a previous price target of $44 .
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.