Short Term Price Target on SolarCity Corporation (SCTY)

SolarCity Corporation (NASDAQ:SCTY) has been rated by 12 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $69 and the lowest price target forecast is $19. The average forecast of all the analysts is $33.67 and the expected standard deviation is $14.87.

Shares of SolarCity Corporation rose by 8.87% in the last five trading days and 11.77% for the last 4 weeks. SolarCity Corporation has dropped 1.44% during the last 3-month period . Year-to-Date the stock performance stands at -53.1%.

SolarCity Corporation (NASDAQ:SCTY) : The consensus on SolarCity Corporation (NASDAQ:SCTY) based on 13 analyst recommendation on the company stock is 2.38, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 7 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

SolarCity Corporation (NASDAQ:SCTY): The stock opened at $24.12 on Thursday but the bulls could not build on the opening and the stock topped out at $24.33 for the day. The stock traded down to $23.68 during the day, due to lack of any buying support eventually closed down at $23.93 with a loss of -1.48% for the day. The stock had closed at $24.29 on the previous day. The total traded volume was 6,303,673 shares.

In an insider trading activity, The Securities and Exchange Commission has divulged that Weissman Seth R, officer (EVP, General Counsel) of Solarcity Corp, had unloaded 940 shares at an average price of $20.35 in a transaction dated on May 16, 2016. The total value of the transaction was worth $19,129.

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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