Vivint Solar Inc (VSLR) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $0.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.71. Analysts had a consensus of $-0.59. The company posted revenue of $34.94 million in the period, compared to analysts expectations of $27.21 million. The company’s revenue was up 116.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.
Many Wall Street Analysts have commented on Vivint Solar Inc. Company shares were Upgraded by Deutsche Bank on May 27, 2016 to ” Buy”, Firm has raised the Price Target to $ 7.50 from a previous price target of $3.50 .
Vivint Solar Inc opened for trading at $2.86 and hit $3 on the upside on Friday, eventually ending the session at $2.97, with a gain of 6.83% or 0.19 points. The heightened volatility saw the trading volume jump to 17,54,415 shares. Company has a market cap of $318 M.
In a different news, on Jun 4, 2015, Shawn J. Lindquist (officer ) sold 55,148 shares at $13.93 per share price.
Vivint Solar Inc. is a provider of distributed solar energy which is electricity generated by a solar energy system installed at customers’ locations. Through its investment funds the Company owns an interest in the solar energy systems it installs and ownership of the solar energy systems allows it and the other fund investors to benefit from various local state and federal incentives. The Company obtains financing based on these cash flows and incentives. When customers decide to move or sell the home prior to the end of their contract term the customer contracts allow its customers to transfer their obligations to the new home buyer. The Company offers consultation design and engineering process installation and ongoing monitoring and services.