Vivint Solar (VSLR) Trading Up 11.8%

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Vivint Solar Inc (NYSE:VSLR) shares were up 11.8% on Tuesday . The company traded as high as $7.24 and last traded at $7.09. Approximately 1,449,804 shares were traded during trading, an increase of 97% from the average daily volume of 734,369 shares. The stock had previously closed at $6.34.

A number of research analysts have weighed in on VSLR shares. ValuEngine raised Vivint Solar from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. JMP Securities reaffirmed a “buy” rating and set a $12.00 target price on shares of Vivint Solar in a report on Wednesday, March 6th. Zacks Investment Research lowered Vivint Solar from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Bank of America lifted their target price on Vivint Solar from $9.50 to $10.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Roth Capital started coverage on Vivint Solar in a report on Monday, May 6th. They set a “buy” rating and a $10.00 target price for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $10.13.

The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 3.22. The firm has a market cap of $764.68 million, a price-to-earnings ratio of -2.98 and a beta of 0.53.

Vivint Solar (NYSE:VSLR) last posted its earnings results on Tuesday, March 5th. The company reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.30). The company had revenue of $63.46 million for the quarter, compared to analysts’ expectations of $69.70 million. Vivint Solar had a negative net margin of 9.90% and a negative return on equity of 87.03%. Analysts predict that Vivint Solar Inc will post -2.56 earnings per share for the current year.

In other news, CFO Dana C. Russell sold 36,275 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $4.66, for a total transaction of $169,041.50. Following the completion of the transaction, the chief financial officer now owns 470,549 shares of the company’s stock, valued at $2,192,758.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Bywater sold 21,700 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $4.62, for a total value of $100,254.00. Following the transaction, the chief executive officer now directly owns 1,304,697 shares of the company’s stock, valued at approximately $6,027,700.14. The disclosure for this sale can be found here. Insiders have sold 503,412 shares of company stock valued at $3,099,854 in the last three months. 4.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Weiss Asset Management LP grew its holdings in shares of Vivint Solar by 28.0% during the first quarter. Weiss Asset Management LP now owns 20,574 shares of the company’s stock worth $102,000 after purchasing an additional 4,495 shares in the last quarter. FMR LLC grew its holdings in shares of Vivint Solar by 3.1% during the first quarter. FMR LLC now owns 14,028,753 shares of the company’s stock worth $69,723,000 after purchasing an additional 417,774 shares in the last quarter. SEI Investments Co purchased a new position in shares of Vivint Solar during the first quarter worth about $477,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Vivint Solar by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 222,243 shares of the company’s stock worth $1,105,000 after purchasing an additional 5,867 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Vivint Solar by 182.6% during the first quarter. The Manufacturers Life Insurance Company now owns 29,710 shares of the company’s stock worth $148,000 after purchasing an additional 19,196 shares in the last quarter. 91.47% of the stock is owned by institutional investors.

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Vivint Solar Company Profile (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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