SolarCity Corp (SCTY) is Initiated by Guggenheim to Buy

SolarCity Corp (SCTY) was Initiated by Guggenheim to “Buy”. Guggenheim advised their investors in a research report released on May 4, 2016.

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 .

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.

SolarCity Corp closed down -0.77 points or -2.54% at $29.55 with 46,77,988 shares getting traded on Monday. Post opening the session at $30.05, the shares hit an intraday low of $28.35 and an intraday high of $30.25 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jan 5, 2016, Seth R Weissman (EVP, General Counsel) sold 15,396 shares at $50.47 per share price. According to the SEC, on Dec 17, 2015, Nancy E Pfund (director) sold 50,000 shares at $55.80 per share price. On Nov 16, 2015, Tanguy Serra (Chief Operations Officer) sold 3,443 shares at $26.57 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

SolarCity Corp

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