Pomelo Capital adds SolarCity Corp (SCTY) to its portfolio

SolarCity Corp (SCTY) : Pomelo Capital added new position in SolarCity Corp during the most recent quarter end. The investment management firm now holds 24,290 shares of SolarCity Corp which is valued at $473,169 , the company said in a statement filed on Nov 14, 2016 with the SEC.SolarCity Corp makes up approximately 0.63% of Pomelo Capital’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas sold out all of its stake in SCTY during the most recent quarter. The investment firm sold 8,848 shares of SCTY which is valued $178,553.Financial Architects Inc boosted its stake in SCTY in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 300 shares of SolarCity Corp which is valued at $5,880.

SolarCity Corp closed down -0.06 points or -0.29% at $20.34 with 97,58,212 shares getting traded on Monday. Post opening the session at $21, the shares hit an intraday low of $20.34 and an intraday high of $21.19 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, SolarCity Corp reported $-2.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Nov 9, 2016. Analyst had a consensus of $-2.48. The company had revenue of $200.60 million for the quarter, compared to analysts expectations of $164.78 million. The company’s revenue was up 76.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.20 EPS.

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 Company’s products services and technologies include solar energy systems customer agreements grid control / energy storage systems Zep solar mounting systems and software. The Company’s 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

SolarCity Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on SolarCity Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.