Vivint Solar Inc (NYSE:VSLR) Director Todd R. Pedersen Sells 50,000 Shares of Stock

Vivint Solar Inc (NYSE:VSLR) Director Todd R. Pedersen sold 50,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.65, for a total transaction of $382,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of NYSE VSLR traded up $0.16 during midday trading on Thursday, hitting $8.08. The stock had a trading volume of 8,041 shares, compared to its average volume of 1,098,022. The business’s 50 day moving average is $7.99 and its 200-day moving average is $6.77. The company has a market cap of $931.60 million, a P/E ratio of -3.39 and a beta of 0.37. Vivint Solar Inc has a 52 week low of $3.55 and a 52 week high of $9.82. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 3.70.

Vivint Solar (NYSE:VSLR) last issued its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.17). The firm had revenue of $90.80 million during the quarter, compared to the consensus estimate of $91.92 million. Vivint Solar had a negative return on equity of 97.07% and a negative net margin of 25.06%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.50) EPS. As a group, analysts expect that Vivint Solar Inc will post -2.66 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Vivint Solar by 1,260.2% in the second quarter. Bank of Montreal Can now owns 3,659 shares of the company’s stock worth $27,000 after buying an additional 3,390 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Vivint Solar during the second quarter valued at approximately $37,000. BNP Paribas Arbitrage SA raised its holdings in shares of Vivint Solar by 742.3% during 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 during the last quarter. Aperio Group LLC purchased a new position in shares of Vivint Solar during the second quarter valued at approximately $110,000. Finally, Weiss Asset Management LP raised its holdings in shares of Vivint Solar by 28.0% during the first quarter. Weiss Asset Management LP now owns 20,574 shares of the company’s stock valued at $102,000 after purchasing an additional 4,495 shares during the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Several equities research analysts recently commented on VSLR shares. Bank of America boosted their price objective on shares of Vivint Solar from $12.50 to $14.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. KeyCorp started coverage on shares of Vivint Solar in a research note on Monday, August 19th. They set an “overweight” rating and a $12.00 price objective on the stock. Finally, Oppenheimer set a $11.00 price objective on shares of Vivint Solar and gave the stock a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Vivint Solar presently has an average rating of “Buy” and an average price target of $11.25.

Vivint Solar Company Profile

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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