Vivint Solar (VSLR) Shares Up 8.1%
Vivint Solar Inc (NYSE:VSLR)’s share price shot up 8.1% on Tuesday . The stock traded as high as $6.62 and last traded at $6.54. 1,126,027 shares were traded during trading, an increase of 54% from the average session volume of 729,565 shares. The stock had previously closed at $6.05.
Several research firms have weighed in on VSLR. Zacks Investment Research raised Vivint Solar from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th. ValuEngine raised Vivint Solar from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 1st. Roth Capital started coverage on Vivint Solar in a research note on Monday, May 6th. They set a “buy” rating and a $10.00 price objective on the stock. Citigroup raised Vivint Solar from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.25 to $8.50 in a research note on Tuesday, May 7th. Finally, JMP Securities reaffirmed a “buy” rating and set a $12.00 price objective on shares of Vivint Solar in a research note on Wednesday, March 6th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.13.
The company has a market cap of $777.95 million, a PE ratio of -2.71 and a beta of 0.53. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 3.22.
In other Vivint Solar news, CEO David Bywater sold 21,700 shares of Vivint Solar stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $4.62, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dana C. Russell sold 36,275 shares of Vivint Solar stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $4.66, for a total value of $169,041.50. Following the transaction, the chief financial officer now directly owns 470,549 shares in the company, valued at $2,192,758.34. The disclosure for this sale can be found here. Insiders have sold 403,412 shares of company stock worth $2,460,854 over the last ninety days. Insiders own 4.20% of the company’s stock.
Several large investors have recently made changes to their positions in the company. SEI Investments Co acquired a new position in shares of Vivint Solar in the 1st quarter valued at about $477,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Vivint Solar by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 222,243 shares of the company’s stock valued at $1,105,000 after purchasing an additional 5,867 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Vivint Solar by 182.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,710 shares of the company’s stock valued at $148,000 after purchasing an additional 19,196 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Vivint Solar by 11.3% in the 1st quarter. Neuberger Berman Group LLC now owns 155,735 shares of the company’s stock valued at $774,000 after purchasing an additional 15,800 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Vivint Solar by 18.6% in the 1st quarter. Northern Trust Corp now owns 477,069 shares of the company’s stock valued at $2,371,000 after purchasing an additional 74,889 shares during the period. 91.47% of the stock is currently owned by institutional investors.
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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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