Vivint Solar (VSLR) Shares Down 5.8%
Vivint Solar Inc (NYSE:VSLR) dropped 5.8% on Friday . The stock traded as low as $4.80 and last traded at $4.85. Approximately 858,875 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 718,282 shares. The stock had previously closed at $5.15.
VSLR has been the subject of several recent research reports. Bank of America lifted their price objective on Vivint Solar from $9.50 to $10.00 and gave the stock a “buy” rating in a report on Monday, March 11th. JMP Securities reissued a “buy” rating and issued a $12.00 price objective on shares of Vivint Solar in a report on Wednesday, March 6th. ValuEngine raised Vivint Solar from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Zacks Investment Research raised Vivint Solar from a “sell” rating to a “hold” rating in a report on Saturday, January 12th. Finally, Citigroup initiated coverage on Vivint Solar in a report on Monday, January 7th. They issued a “neutral” rating and a $4.25 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $7.69.
The company has a quick ratio of 1.59, a current ratio of 1.67 and a debt-to-equity ratio of 3.32. The firm has a market cap of $596.12 million, a price-to-earnings ratio of -2.04 and a beta of 0.51.
A number of hedge funds have recently bought and sold shares of VSLR. OMERS ADMINISTRATION Corp bought a new stake in shares of Vivint Solar during the 4th quarter valued at about $274,000. Geode Capital Management LLC boosted its position in shares of Vivint Solar by 45.4% during the 4th quarter. Geode Capital Management LLC now owns 385,239 shares of the company’s stock valued at $1,467,000 after acquiring an additional 120,332 shares during the last quarter. Norges Bank bought a new stake in shares of Vivint Solar during the 4th quarter valued at about $2,712,000. FMR LLC boosted its position in shares of Vivint Solar by 27.5% during the 4th quarter. FMR LLC now owns 13,610,979 shares of the company’s stock valued at $51,857,000 after acquiring an additional 2,931,932 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Vivint Solar during the 4th quarter valued at about $1,104,000. 91.17% of the stock is owned by institutional investors and hedge funds.
About Vivint Solar (NYSE:VSLR)
Vivint Solar, Inc provides distributed solar energy to residential, commercial, and industrial customers in the United States. The company operates in two segments, Residential, and Commercial and Industrial. 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.
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