Zacks Investment Research Downgrades Vivint Solar, Inc. (VSLR) to Hold

Zacks Investment Research downgraded shares of Vivint Solar, Inc. (NYSE:VSLR) from a buy rating to a hold rating in a report released on Thursday.

According to Zacks, “Vivint Solar Inc. is a provider of residential solar energy systems in the United States. It designs, installs, and maintains cost-effective solar energy systems. The Company also offers photovoltaic installation software products and devices. Vivint Solar, Inc. is headquartered in Provo, Utah. “

VSLR has been the topic of a number of other reports. BidaskClub cut Vivint Solar from a hold rating to a sell rating in a research note on Thursday, September 28th. TheStreet raised Vivint Solar from a d rating to a c rating in a research note on Monday, October 2nd. Deutsche Bank AG cut Vivint Solar from a buy rating to a hold rating and set a $6.00 price target on the stock. in a research note on Wednesday, August 9th. ValuEngine cut Vivint Solar from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Guggenheim started coverage on Vivint Solar in a research note on Wednesday, September 27th. They issued a buy rating and a $5.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $4.71.

Vivint Solar (VSLR) opened at 3.75 on Thursday. The firm has a market cap of $429.24 million, a P/E ratio of 7.88 and a beta of -0.34. The stock has a 50 day moving average price of $4.11 and a 200 day moving average price of $4.08. Vivint Solar has a 1-year low of $2.50 and a 1-year high of $6.09.

Vivint Solar (NYSE:VSLR) last announced its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.07. The business had revenue of $73.00 million for the quarter, compared to analysts’ expectations of $65.41 million. Vivint Solar had a negative return on equity of 26.46% and a net margin of 26.35%. The business’s quarterly revenue was up 109.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. On average, analysts anticipate that Vivint Solar will post ($1.48) EPS for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its stake in shares of Vivint Solar by 75.3% during the second quarter. Dynamic Technology Lab Private Ltd now owns 19,161 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 8,233 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Vivint Solar by 0.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 73,459 shares of the semiconductor company’s stock valued at $430,000 after purchasing an additional 200 shares in the last quarter. State Street Corp boosted its position in shares of Vivint Solar by 5.8% during the second quarter. State Street Corp now owns 363,520 shares of the semiconductor company’s stock valued at $2,127,000 after purchasing an additional 20,027 shares in the last quarter. Virtu KCG Holdings LLC boosted its position in shares of Vivint Solar by 456.9% during the second quarter. Virtu KCG Holdings LLC now owns 161,804 shares of the semiconductor company’s stock valued at $947,000 after purchasing an additional 132,751 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Vivint Solar by 23.3% during the second quarter. Vanguard Group Inc. now owns 1,743,605 shares of the semiconductor company’s stock valued at $10,200,000 after purchasing an additional 329,748 shares in the last quarter. 95.50% of the stock is currently owned by hedge funds and other institutional investors.

Vivint Solar Company Profile

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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Analyst Recommendations for Vivint Solar (NYSE:VSLR)

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