Price Target Update on SolarCity Corporation (NASDAQ:SCTY)

SolarCity Corporation (NASDAQ:SCTY) : The most positive equity analysts on SolarCity Corporation (NASDAQ:SCTY) expects the shares to touch $69, whereas, the least positive believes that the stock will trade at $19 in the short term. The company is covered by 11 Wall Street Brokerage Firms. The average price target for shares are $36 with an expected fluctuation of $14.6 from the mean.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Baird upgrades the rating on SolarCity Corporation (NASDAQ:SCTY). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on June 9, 2016.

SolarCity Corporation (NASDAQ:SCTY): stock turned positive on Thursday. Though the stock opened at $21.35, the bulls momentum made the stock top out at $21.99 level for the day. The stock recorded a low of $20.57 and closed the trading day at $21.98, in the green by 0.46%. The total traded volume for the day was 9,447,979. The stock had closed at $21.88 in the previous days trading.

The company shares have dropped -61.18% from its 1 Year high price. On Aug 5, 2015, the shares registered one year high at $61.72 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $21.62 and the 200 Day Moving Average price is recorded at $29.34. On the companys insider trading activities,The officer (EVP, General Counsel) of Solarcity Corp, Weissman Seth R sold 940 shares at $20.35 on May 16, 2016. The Insider selling transaction had a total value worth of $19,129. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 Companys products, services and technologies include solar energy systems, customer agreements, grid control / energy storage systems, Zep solar mounting systems and software. The Companys 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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