Is SolarCity (NASDAQ:SCTY) Now a Good Investment? Bernstein Upgrades Stock


SolarCity (NASDAQ:SCTY) Stock Upgrade

Bernstein has increased shares of SolarCity (NASDAQ:SCTY) to a Outperform in a recent report published on moments ago, and has established an estimated 52-week target price equal to $69. SCTY’s previous stock rating was a Mkt Perform.

From a total of 17 analysts covering SolarCity (NASDAQ:SCTY) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $90 while the lowest target price is $33. The mean of all analyst targets is $58.29 with a 16.30% above today’s ($56.15) stock price. SolarCity was the topic of 22 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. TH Capital maintained shares on December 16 with “Buy” rating. Roth Capital maintained shares with “Buy” rating and $70 target share price in a report from an October 26. Goldman Sachs downgraded SCTY stock in a recent report from October 30 to “Neutral” rating. UBS maintained the rating on October 7. UBS has a “Neutral” rating and a $48 price target on shares. Finally, Robert W. Baird downgraded the stock to “Neutral” rating in a report issued on an October 30.

Approximately 4.78M shares of stock traded hands or 1.70% up from the average. SolarCity Corp (NASDAQ:SCTY) has declined 14.40% since May 14, 2015 and is downtrending. It has underperformed by 12.13% the S&P500.

The overall sentiment of institutions has decreased to 0.98 in Q2 2015. Its down 0.40, from 1.38 in 2015Q2. The ratio turned negative, as 46 institutions have sold all the shares of SolarCity Corp that they owned while 69 funds have taken shares off the table. 31 funds have purchased shares for the first time while 82 added to their positions. These institutions now hold 52.19 million shares or 0.67% less than the 52.54 million shares they owned in 2015Q2.

The Fund Founders Fund Iv Management Llc currently is holding shares equating to 100% of its total portfolio in SolarCity Corp representing a total of 986,300 shares. Another fund,Srs Investment Management Llc, is holding a total of 8.02 million shares equating to 11.35% of their holdings. Additionally, Canyon Capital Advisors Llc has a 4.45 million share stake in SolarCity Corp which represents 5.22% of their total portfolio. The Fund, Rit Capital Partners Plc, based out of United Kingdom, has also built up a stake in the stock, which represents a total of 3.79% of their total portfolio. Finally Passport Capital Llc, a fund which is based in the state of California reported a total holdings of 3.68 million shares.

Insider activity is a very important aspect to track on any stock. Going back to March 9, 2015, shareholders of SolarCity Corp have witnessed 0 buys, and a total of 7 selling transactions equating to a net activity of approximately $3.07 million . Buss Brad W sold 10,645 shares worth approximately $512,377. Weissman Seth R sold 1,938 shares worth approximately $92,037. Serra Tanguy sold 5,399 shares worth approximately $258,358. Barnard Hayden sold 7,206 shares worth approximately $344,171. The company insider Pfund Nancy E sold 12,500 shares worth $750,200.

SolarCity Corporation sells renewable energy. The company has a market cap of $5.16 billion. The Firm integrates the sales, engineering, installation, monitoring, maintenance and financing of its distributed solar energy systems. It currently has negative earnings. It offers long-term energy solutions to residential, commercial and government customers.

According to Zacks Investment Research, “SolarCity Corporation provides clean energy services. The company offers solar power, energy efficiency and electric vehicle design, monitoring and maintenance services to homeowners, businesses, schools, non-profits, and government organizations in the United States. SolarCity is headquartered in San Mateo, California.”