SolarCity Corp (SCTY) reported quarterly earnings results on Monday, May-9-2016. The company reported $-2.56 earnings per share for the quarter, missing the analyst consensus estimate by $-0.19. Analysts had a consensus of $-2.37. The company posted revenue of $122.57 million in the period, compared to analysts expectations of $110.02 million. The company’s revenue was up 81.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.52 EPS.
Many Wall Street Analysts have commented on SolarCity Corp. SolarCity Corp was Initiated by Guggenheim to “Buy” on May 4, 2016. 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 .
SolarCity Corp opened for trading at $21.08 and hit $22.75 on the upside on Friday, eventually ending the session at $21.84, with a gain of 0.78% or 0.17 points. The heightened volatility saw the trading volume jump to 94,46,305 shares. Company has a market cap of $2,138 M.
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.