Deutsche Bank AG downgraded shares of Vivint Solar, Inc. (NYSE:VSLR) from a buy rating to a hold rating in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have $6.00 target price on the semiconductor company’s stock.
Several other research firms have also issued reports on VSLR. ValuEngine raised Vivint Solar from a sell rating to a hold rating in a research note on Wednesday, June 21st. Zacks Investment Research raised Vivint Solar from a hold rating to a buy rating and set a $3.25 price target for the company in a research note on Thursday, May 11th. Credit Suisse Group set a $4.00 price target on Vivint Solar and gave the stock a hold rating in a research note on Monday, May 8th. Finally, Goldman Sachs Group, Inc. (The) raised Vivint Solar from a neutral rating to a buy rating and raised their price target for the stock from $3.50 to $6.00 in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Vivint Solar currently has a consensus rating of Hold and an average price target of $5.38.
Shares of Vivint Solar (VSLR) traded up 2.15% during mid-day trading on Wednesday, reaching $4.75. The company’s stock had a trading volume of 339,008 shares. The company has a market cap of $543.71 million, a PE ratio of 9.98 and a beta of -0.25. Vivint Solar has a 52-week low of $2.50 and a 52-week high of $6.09. The company has a 50-day moving average price of $5.40 and a 200 day moving average price of $3.68.
Vivint Solar (NYSE:VSLR) last posted its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. The business had revenue of $73 million during the quarter, compared to analyst estimates of $65.41 million. Vivint Solar had a negative return on equity of 26.46% and a net margin of 26.35%. The company’s revenue for the quarter was up 109.2% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. Equities analysts expect that Vivint Solar will post ($1.48) earnings per share for the current year.
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In related news, EVP Thomas G. Plagemann sold 46,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $3.06, for a total transaction of $140,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Bryan Christiansen sold 27,033 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $5.50, for a total value of $148,681.50. The disclosure for this sale can be found here. Insiders have sold a total of 504,861 shares of company stock valued at $2,410,242 over the last three months. 4.50% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of VSLR. IPG Investment Advisors LLC acquired a new stake in shares of Vivint Solar during the first quarter worth about $112,000. OMERS ADMINISTRATION Corp purchased a new position in Vivint Solar during the first quarter valued at approximately $118,000. Rhumbline Advisers increased its position in Vivint Solar by 9.8% in the second quarter. Rhumbline Advisers now owns 28,571 shares of the semiconductor company’s stock valued at $167,000 after buying an additional 2,549 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Vivint Solar by 1.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 73,259 shares of the semiconductor company’s stock valued at $205,000 after buying an additional 1,000 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Vivint Solar during the second quarter valued at approximately $278,000. 93.72% of the stock is owned by hedge funds and other institutional investors.
Vivint Solar Company Profile
Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.
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