Vivint Solar (NYSE:VSLR) Reaches New 12-Month High at $35.33

Vivint Solar Inc (NYSE:VSLR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $35.33 and last traded at $35.15, with a volume of 18447 shares changing hands. The stock had previously closed at $34.53.

Several equities research analysts have recently commented on the stock. Morgan Stanley started coverage on shares of Vivint Solar in a research note on Tuesday, August 11th. They issued an “equal weight” rating and a $19.00 target price on the stock. JMP Securities lowered shares of Vivint Solar from an “outperform” rating to a “market perform” rating and set a $15.00 price target on the stock. in a research report on Tuesday, July 7th. TheStreet upgraded shares of Vivint Solar from a “d+” rating to a “c” rating in a research note on Tuesday, June 23rd. Goldman Sachs Group downgraded Vivint Solar from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $9.00 to $10.00 in a report on Wednesday, June 24th. Finally, Zacks Investment Research raised Vivint Solar from a “sell” rating to a “hold” rating in a report on Saturday, July 11th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $16.80.

The firm has a 50-day simple moving average of $28.11 and a 200 day simple moving average of $14.05. The stock has a market capitalization of $4.33 billion, a P/E ratio of -48.63 and a beta of 1.84. The company has a debt-to-equity ratio of 9.63, a current ratio of 2.03 and a quick ratio of 1.97.

Vivint Solar (NYSE:VSLR) last posted its earnings results on Wednesday, August 5th. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.67) by $0.66. The firm had revenue of $106.39 million for the quarter, compared to analyst estimates of $83.55 million. Vivint Solar had a negative net margin of 23.48% and a negative return on equity of 186.43%. Sell-side analysts anticipate that Vivint Solar Inc will post -2.86 earnings per share for the current fiscal year.

In other Vivint Solar news, major shareholder 313 Acquisition Llc sold 11,627,907 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $21.50, for a total transaction of $250,000,000.50. Also, COO Bryan Christiansen sold 2,168 shares of Vivint Solar stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $30.84, for a total value of $66,861.12. Following the completion of the transaction, the chief operating officer now directly owns 158,048 shares of the company’s stock, valued at $4,874,200.32. The disclosure for this sale can be found here. In the last three months, insiders sold 12,504,751 shares of company stock valued at $274,174,007. Insiders own 2.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of VSLR. FMR LLC grew its position in shares of Vivint Solar by 10.2% during the 2nd quarter. FMR LLC now owns 17,453,827 shares of the company’s stock worth $172,793,000 after buying an additional 1,614,679 shares during the period. Phoenix Holdings Ltd. grew its holdings in Vivint Solar by 26.8% in the first quarter. Phoenix Holdings Ltd. now owns 4,035,628 shares of the company’s stock worth $17,225,000 after purchasing an additional 852,766 shares during the period. Arosa Capital Management LP increased its stake in Vivint Solar by 29.5% in the first quarter. Arosa Capital Management LP now owns 3,400,729 shares of the company’s stock valued at $14,861,000 after purchasing an additional 774,982 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Vivint Solar by 1,003.9% during the first quarter. Alliancebernstein L.P. now owns 543,108 shares of the company’s stock valued at $2,373,000 after purchasing an additional 493,908 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Vivint Solar by 15.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,581,501 shares of the company’s stock worth $35,457,000 after purchasing an additional 478,259 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.

Vivint Solar Company Profile (NYSE:VSLR)

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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