Vivint Solar (NYSE:VSLR) Upgraded to “Hold” at Zacks Investment Research
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. “
Other research analysts have also issued research reports about the stock. Goldman Sachs Group lowered shares of Vivint Solar from a buy rating to a neutral rating and increased their target price for the stock from $9.00 to $10.00 in a research report on Wednesday, June 24th. ValuEngine downgraded Vivint Solar from a strong-buy rating to a buy rating in a research report on Friday, May 1st. TheStreet upgraded Vivint Solar from a d+ rating to a c rating in a research note on Tuesday, June 23rd. JMP Securities cut Vivint Solar from an outperform rating to a market perform rating and set a $15.00 price objective for the company. in a report on Tuesday, July 7th. Finally, Deutsche Bank raised Vivint Solar to a hold rating in a report on Wednesday, March 18th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $13.17.
Vivint Solar (NYSE:VSLR) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.33). Vivint Solar had a negative net margin of 32.03% and a negative return on equity of 165.27%. The business had revenue of $91.20 million during the quarter, compared to analyst estimates of $79.72 million. During the same quarter last year, the company posted ($0.22) earnings per share. The company’s revenue was up 32.2% on a year-over-year basis. Research analysts expect that Vivint Solar will post -2.86 EPS for the current year.
In other Vivint Solar news, EVP Thomas G. Plagemann sold 2,995 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $10.17, for a total transaction of $30,459.15. Also, insider L. Chance Allred sold 5,395 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $10.17, for a total transaction of $54,867.15. Following the completion of the sale, the insider now owns 200,303 shares in the company, valued at $2,037,081.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,125 shares of company stock worth $234,379. Company insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Phoenix Holdings Ltd. raised its position in Vivint Solar by 26.8% in the first quarter. Phoenix Holdings Ltd. now owns 4,035,628 shares of the company’s stock valued at $17,225,000 after purchasing an additional 852,766 shares during the last quarter. Arosa Capital Management LP increased its stake in shares of Vivint Solar by 29.5% in the first quarter. Arosa Capital Management LP now owns 3,400,729 shares of the company’s stock valued at $14,861,000 after buying an additional 774,982 shares during the period. Alliancebernstein L.P. increased its stake in shares of Vivint Solar by 1,003.9% in the first quarter. Alliancebernstein L.P. now owns 543,108 shares of the company’s stock valued at $2,373,000 after buying an additional 493,908 shares during the period. Invesco Ltd. raised its holdings in Vivint Solar by 17.9% in the 1st quarter. Invesco Ltd. now owns 3,049,738 shares of the company’s stock valued at $13,327,000 after buying an additional 463,777 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its position in Vivint Solar by 51.3% during the 1st quarter. Essex Investment Management Co. LLC now owns 1,233,771 shares of the company’s stock worth $5,392,000 after buying an additional 418,070 shares during the period. 96.33% of the stock is currently owned by hedge funds and other institutional investors.
About Vivint Solar
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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