SolarCity Corporation (SCTY) has risen sharply, recording gains of 4.16% in the past 4 weeks. However, the stock has corrected -7.15% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.63% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
SolarCity Corporation (NASDAQ:SCTY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.37 and $24.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.83. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.79, notching a gain of 1.68% for the day. The total traded volume was 2,322,292 . The stock had closed at $24.38 on the previous day.
The stock has recorded a 20-day Moving Average of 3.3% and the 50-Day Moving Average is 4.27%. SolarCity Corporation is up 13.51% in the last 3-month period. Year-to-Date the stock performance stands at -51.41%.
SolarCity Corporation (SCTY) : The most positive equity analysts on SolarCity Corporation (SCTY) expects the shares to touch $50, whereas, the least positive believes that the stock will trade at $19 in the short term. The company is covered by 10 Wall Street Brokerage Firms. The average price target for shares are $27.2 with an expected fluctuation of $9.07 from the mean.
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.