Vivint Solar, Inc. (NYSE:VSLR) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Vivint Solar from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Wednesday, March 22nd. Goldman Sachs Group, Inc. (The) raised Vivint Solar from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $3.50 to $6.00 in a report on Tuesday. Credit Suisse Group set a $4.00 price target on Vivint Solar and gave the stock a “hold” rating in a report on Monday, May 8th. Finally, JMP Securities reissued a “hold” rating on shares of Vivint Solar in a report on Saturday, March 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $5.32.
Vivint Solar (NYSE VSLR) opened at 5.50 on Wednesday. The company has a market capitalization of $608.17 million, a PE ratio of 10.24 and a beta of -0.14. Vivint Solar has a 52-week low of $2.50 and a 52-week high of $5.50. The company has a 50 day moving average of $3.20 and a 200 day moving average of $3.02.
Vivint Solar (NYSE:VSLR) last posted its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by $0.02. Vivint Solar had a negative return on equity of 29.10% and a net margin of 36.54%. The business had revenue of $53.11 million during the quarter, compared to analysts’ expectations of $47.09 million. During the same period in the prior year, the firm posted ($0.65) earnings per share. The firm’s revenue for the quarter was up 208.2% on a year-over-year basis. On average, equities research analysts forecast that Vivint Solar will post ($1.74) earnings per share for the current fiscal year.
In other news, Director David F. D’alessandro sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $4.77, for a total transaction of $85,860.00. Following the sale, the director now directly owns 52,471 shares of the company’s stock, valued at approximately $250,286.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dana C. Russell sold 149,500 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $2.76, for a total value of $412,620.00. Following the sale, the chief financial officer now directly owns 250,500 shares in the company, valued at $691,380. The disclosure for this sale can be found here. Insiders have sold a total of 481,800 shares of company stock worth $1,417,202 over the last ninety days. Insiders own 5.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. IPG Investment Advisors LLC purchased a new stake in shares of Vivint Solar during the first quarter valued at about $112,000. OMERS ADMINISTRATION Corp bought a new position in Vivint Solar during the first quarter valued at $118,000. Teachers Advisors LLC increased its position in Vivint Solar by 22.4% in the first quarter. Teachers Advisors LLC now owns 44,729 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 8,197 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Vivint Solar by 76.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 60,089 shares of the semiconductor company’s stock valued at $153,000 after buying an additional 25,982 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Vivint Solar by 1.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 73,259 shares of the semiconductor company’s stock valued at $205,000 after buying an additional 1,000 shares in the last quarter. 93.77% 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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