Vivint Solar Inc (NYSE:VSLR) Sees Large Increase in Short Interest

Vivint Solar Inc (NYSE:VSLR) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 11,670,000 shares, an increase of 13.6% from the January 15th total of 10,270,000 shares. Approximately 23.7% of the shares of the company are sold short. Based on an average daily trading volume, of 903,900 shares, the days-to-cover ratio is presently 12.9 days.

Shares of NYSE VSLR traded up $0.12 during midday trading on Friday, reaching $11.12. The stock had a trading volume of 10,991 shares, compared to its average volume of 1,331,460. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -16.37 and a beta of 0.31. Vivint Solar has a 12-month low of $4.38 and a 12-month high of $11.01. The stock has a 50-day moving average of $8.46 and a 200-day moving average of $7.66. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.91 and a current ratio of 0.95.

VSLR has been the subject of a number of analyst reports. ValuEngine cut Vivint Solar from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Zacks Investment Research cut Vivint Solar from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $11.67.

In other news, EVP Thomas G. Plagemann sold 12,970 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $7.51, for a total transaction of $97,404.70. Following the completion of the sale, the executive vice president now owns 275,176 shares of the company’s stock, valued at approximately $2,066,571.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Todd R. Pedersen sold 100,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.37, for a total value of $637,000.00. In the last three months, insiders sold 1,530,570 shares of company stock worth $12,769,803. 4.10% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of VSLR. First Trust Advisors LP increased its stake in Vivint Solar by 3.8% in the 1st quarter. First Trust Advisors LP now owns 116,179 shares of the company’s stock worth $577,000 after buying an additional 4,255 shares in the last quarter. BlackRock Inc. grew its position in shares of Vivint Solar by 7.3% during the second quarter. BlackRock Inc. now owns 2,914,958 shares of the company’s stock worth $21,279,000 after purchasing an additional 198,902 shares in the last quarter. Vanguard Group Inc. raised its stake in Vivint Solar by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,006,908 shares of the company’s stock valued at $21,951,000 after purchasing an additional 43,038 shares during the period. Morgan Stanley raised its stake in Vivint Solar by 730.9% during the 2nd quarter. Morgan Stanley now owns 406,800 shares of the company’s stock valued at $2,970,000 after purchasing an additional 357,840 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Vivint Solar by 6.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,400 shares of the company’s stock valued at $244,000 after purchasing an additional 2,100 shares during the period. 97.91% 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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