Vivint Solar (NYSE:VSLR) Shares Up 6.8%

Vivint Solar Inc (NYSE:VSLR)’s stock price shot up 6.8% during trading on Thursday . The company traded as high as $7.41 and last traded at $7.09, 2,275,124 shares were traded during mid-day trading. An increase of 131% from the average session volume of 985,812 shares. The stock had previously closed at $6.64.

A number of brokerages have recently commented on VSLR. Oppenheimer set a $11.00 price objective on Vivint Solar and gave the company a “buy” rating in a research report on Friday, August 9th. ValuEngine downgraded Vivint Solar from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. KeyCorp initiated coverage on Vivint Solar in a research report on Monday, August 19th. They issued an “overweight” rating and a $12.00 price objective for the company. Bank of America boosted their price target on Vivint Solar from $12.50 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup lowered their price target on Vivint Solar from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.58.

The stock has a 50-day simple moving average of $6.91 and a 200-day simple moving average of $7.23. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a market cap of $823.36 million, a PE ratio of -3.01 and a beta of 0.35.

Vivint Solar (NYSE:VSLR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.48). Vivint Solar had a negative net margin of 25.06% and a negative return on equity of 97.07%. The firm had revenue of $103.80 million for the quarter, compared to analysts’ expectations of $96.76 million. During the same period last year, the firm posted ($0.61) EPS. Vivint Solar’s revenue was up 33.2% on a year-over-year basis. As a group, equities research analysts anticipate that Vivint Solar Inc will post -2.66 EPS for the current year.

In other Vivint Solar news, Director Todd R. Pedersen sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $6.87, for a total transaction of $343,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Todd R. Pedersen sold 100,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $7.60, for a total value of $760,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 315,319 shares of company stock valued at $2,402,936. 4.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of VSLR. Aperio Group LLC bought a new position in Vivint Solar during the second quarter worth about $110,000. DekaBank Deutsche Girozentrale grew its stake in Vivint Solar by 28.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 36,057 shares of the company’s stock valued at $263,000 after acquiring an additional 7,981 shares in the last quarter. Brightline Capital Management LLC purchased a new position in Vivint Solar during the second quarter valued at approximately $3,650,000. Alps Advisors Inc. grew its stake in Vivint Solar by 108.1% during the second quarter. Alps Advisors Inc. now owns 68,339 shares of the company’s stock valued at $499,000 after acquiring an additional 35,495 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Vivint Solar by 169.2% during the second quarter. JPMorgan Chase & Co. now owns 517,839 shares of the company’s stock valued at $3,780,000 after acquiring an additional 325,507 shares in the last quarter. Institutional investors own 91.44% of the company’s stock.

About Vivint Solar (NYSE:VSLR)

Vivint Solar, Inc provides distributed solar energy primarily to residential customers in the United States. It owns and installs solar energy systems through long-term customer contracts. The company also sells photovoltaic installation products, as well as solar renewable energy certificates. As of December 31, 2018, it had an aggregate capacity of 1,060.9 megawatts covering approximately 154,600 homes.

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