BidaskClub upgraded shares of Vivint Solar, Inc. (NYSE:VSLR) from a sell rating to a hold rating in a research note released on Thursday morning.
Other equities research analysts also recently issued reports about the company. Goldman Sachs Group, Inc. (The) raised Vivint Solar from a neutral rating to a buy rating and lifted their price objective for the company from $3.50 to $6.00 in a report on Tuesday, June 20th. Guggenheim initiated coverage on Vivint Solar in a report on Wednesday, September 27th. They set a buy rating and a $5.00 price objective on the stock. Zacks Investment Research raised Vivint Solar from a hold rating to a buy rating and set a $5.25 price objective on the stock in a report on Saturday, August 12th. Deutsche Bank AG downgraded Vivint Solar from a buy rating to a hold rating and set a $6.00 price objective on the stock. in a report on Wednesday, August 9th. Finally, ValuEngine raised Vivint Solar from a sell rating to a hold rating in a report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Vivint Solar has an average rating of Hold and an average target price of $4.71.
Shares of Vivint Solar (NYSE VSLR) opened at 3.80 on Thursday. The company has a market cap of $434.97 million, a P/E ratio of 7.98 and a beta of -0.35. Vivint Solar has a one year low of $2.50 and a one year high of $6.09. The company has a 50 day moving average price of $4.28 and a 200 day moving average price of $4.02.
Vivint Solar (NYSE:VSLR) last released its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. The company had revenue of $73.00 million for the quarter, compared to the consensus estimate of $65.41 million. Vivint Solar had a negative return on equity of 26.46% and a net margin of 26.35%. The company’s quarterly revenue was up 109.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. Equities research analysts expect that Vivint Solar will post ($1.48) earnings per share for the current year.
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In other news, insider L. Chance Allred sold 60,764 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $5.18, for a total value of $314,757.52. Following the transaction, the insider now directly owns 91,463 shares of the company’s stock, valued at approximately $473,778.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Bywater sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $5.25, for a total value of $183,750.00. Following the completion of the transaction, the chief executive officer now directly owns 620,674 shares in the company, valued at $3,258,538.50. The disclosure for this sale can be found here. Insiders sold a total of 346,728 shares of company stock worth $1,828,386 over the last three months. 4.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Vivint Solar by 75.3% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 19,161 shares of the semiconductor company’s stock worth $112,000 after acquiring an additional 8,233 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Vivint Solar by 9.8% in the 2nd quarter. Rhumbline Advisers now owns 28,571 shares of the semiconductor company’s stock worth $167,000 after acquiring an additional 2,549 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Vivint Solar in the 2nd quarter worth approximately $278,000. Teachers Advisors LLC boosted its holdings in shares of Vivint Solar by 6.8% in the 2nd quarter. Teachers Advisors LLC now owns 47,791 shares of the semiconductor company’s stock worth $280,000 after acquiring an additional 3,062 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Vivint Solar by 79.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 71,013 shares of the semiconductor company’s stock worth $416,000 after acquiring an additional 31,361 shares in the last quarter. 95.50% of the stock is currently owned by institutional investors and hedge funds.
About Vivint Solar
Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.
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