SolarCity Corporation (SCTY) Receives ‘Analyst’ Rating

SolarCity Corporation (SCTY) : 1 brokerage houses believe that SolarCity Corporation (SCTY) is a Strong Buy at current levels. 8 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on SolarCity Corporation (SCTY). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 10 Wall Street Analysts endorse the stock as a Hold with a rating of 3.

SolarCity Corporation (SCTY) has been rated by 7 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $26 and the lowest price target forecast is $20. The average forecast of all the analysts is $24.07 and the expected standard deviation is $1.88.


Also, Major Brokerage house, Baird downgrades its ratings on SolarCity Corporation (NASDAQ:SCTY). In the latest research report, Baird lowers the target price from $37 per share to $25 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on August 2, 2016.

SolarCity Corporation (NASDAQ:SCTY): After opening at $16.82, the stock dipped to an intraday low of $16.75 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $17.47 and the buying power remained strong till the end. The stock closed at $17.1 for the day, a gain of 1.24% for the day session. The total traded volume was 3,664,699. The stocks close on the previous trading day was $16.89.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.