SolarCity Corp. (NASDAQ:SCTY) shares rose 6% during mid-day trading on Tuesday . The company traded as high as $18.73 and last traded at $18.27, with a volume of 3,677,725 shares changing hands. The stock had previously closed at $17.23.

SCTY has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $37.00 price target on shares of SolarCity Corp. in a research note on Wednesday, July 20th. Cowen and Company initiated coverage on shares of SolarCity Corp. in a research note on Thursday, August 25th. They issued a “market perform” rating and a $50.00 price target for the company. JPMorgan Chase & Co. set a $21.00 price target on shares of SolarCity Corp. and gave the stock a “hold” rating in a research note on Monday, September 12th. Raymond James Financial Inc. lowered shares of SolarCity Corp. from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, August 2nd. Finally, Axiom Securities reaffirmed a “sell” rating and issued a $7.00 price target on shares of SolarCity Corp. in a research note on Friday, September 9th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.97.

The company has a 50 day moving average of $21.05 and a 200-day moving average of $23.91. The firm’s market capitalization is $1.84 billion.

SolarCity Corp. (NASDAQ:SCTY) last issued its earnings results on Tuesday, August 9th. The renewable energy company reported ($2.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.44) by $0.12. The company had revenue of $185.80 million for the quarter, compared to analyst estimates of $141.57 million. SolarCity Corp. had a negative net margin of 17.65% and a negative return on equity of 64.78%. The company’s revenue for the quarter was up 80.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.23) EPS. On average, analysts predict that SolarCity Corp. will post ($9.92) EPS for the current fiscal year.

In related news, CFO Tanguy Serra sold 2,724 shares of SolarCity Corp. stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $23.72, for a total transaction of $64,613.28. Following the transaction, the chief financial officer now owns 27,437 shares of the company’s stock, valued at approximately $650,805.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Seth R. Weissman sold 4,420 shares of SolarCity Corp. stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $23.89, for a total transaction of $105,593.80. Following the transaction, the executive vice president now directly owns 66,570 shares in the company, valued at approximately $1,590,357.30. The disclosure for this sale can be found here. 36.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in SolarCity Corp. by 4.6% in the second quarter. Vanguard Group Inc. now owns 4,415,320 shares of the renewable energy company’s stock valued at $105,659,000 after buying an additional 194,861 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in SolarCity Corp. by 3.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,482,318 shares of the renewable energy company’s stock valued at $35,472,000 after buying an additional 48,557 shares during the last quarter. Think Investments LP purchased a new position in SolarCity Corp. during the second quarter valued at $18,306,000. Guggenheim Capital LLC raised its position in SolarCity Corp. by 10.0% in the second quarter. Guggenheim Capital LLC now owns 652,408 shares of the renewable energy company’s stock valued at $15,612,000 after buying an additional 59,309 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in SolarCity Corp. by 78.3% in the second quarter. BNP Paribas Arbitrage SA now owns 307,024 shares of the renewable energy company’s stock valued at $7,347,000 after buying an additional 134,869 shares during the last quarter. 42.87% of the stock is currently owned by institutional investors and hedge funds.

About SolarCity Corp.

SolarCity Corporation sells renewable energy. The Company is engaged in the design, manufacture, installation and sale or lease of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers. The Company operates through solar energy products and services segment.

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