Vivint Solar Inc (NYSE:VSLR) has received an average recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $10.13.
VSLR has been the subject of several research reports. ValuEngine upgraded shares of Vivint Solar from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. JMP Securities reiterated a “buy” rating and issued a $12.00 target price on shares of Vivint Solar in a research note on Wednesday, March 6th. Zacks Investment Research cut shares of Vivint Solar from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Bank of America increased their target price on shares of Vivint Solar from $9.50 to $10.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Finally, Roth Capital initiated coverage on shares of Vivint Solar in a research note on Monday, May 6th. They issued a “buy” rating and a $10.00 target price for the company.
VSLR stock traded down $0.15 during mid-day trading on Friday, reaching $6.34. 16,776 shares of the stock traded hands, compared to its average volume of 943,440. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.94 and a quick ratio of 0.90. Vivint Solar has a 52 week low of $3.55 and a 52 week high of $7.44. The stock has a market capitalization of $771.90 million, a price-to-earnings ratio of -2.66 and a beta of 0.53.
Vivint Solar (NYSE:VSLR) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.30). Vivint Solar had a negative net margin of 9.90% and a negative return on equity of 87.03%. The firm had revenue of $63.46 million for the quarter, compared to the consensus estimate of $69.70 million. Equities analysts expect that Vivint Solar will post -2.56 EPS for the current fiscal year.
In other news, CFO Dana C. Russell sold 36,275 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $4.66, for a total transaction of $169,041.50. Following the completion of the sale, the chief financial officer now owns 470,549 shares of the company’s stock, valued at $2,192,758.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Bywater sold 102,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $6.75, for a total transaction of $692,550.00. Following the sale, the chief executive officer now directly owns 1,202,097 shares of the company’s stock, valued at approximately $8,114,154.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 403,412 shares of company stock valued at $2,460,854. Corporate insiders own 4.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its holdings in shares of Vivint Solar by 742.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,768 shares of the company’s stock valued at $44,000 after purchasing an additional 7,727 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Vivint Solar by 29.7% in the first quarter. Citigroup Inc. now owns 11,043 shares of the company’s stock valued at $55,000 after purchasing an additional 2,532 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Vivint Solar in the fourth quarter valued at approximately $57,000. Mitchell Capital Management Co. increased its holdings in shares of Vivint Solar by 68.0% in the fourth quarter. Mitchell Capital Management Co. now owns 16,800 shares of the company’s stock valued at $64,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Vivint Solar in the fourth quarter valued at approximately $67,000. 91.47% of the stock is owned by 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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