Vivint Solar (NYSE:VSLR) Trading Down 7.8%

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Vivint Solar Inc (NYSE:VSLR) shares dropped 7.8% during mid-day trading on Tuesday . The stock traded as low as $6.38 and last traded at $6.40, approximately 1,157,057 shares were traded during trading. An increase of 17% from the average daily volume of 985,552 shares. The stock had previously closed at $6.94.

Several research firms have weighed in on VSLR. Bank of America increased their target price on Vivint Solar from $12.50 to $14.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Oppenheimer set a $11.00 target price on Vivint Solar and gave the company a “buy” rating in a research note on Friday, August 9th. KeyCorp began coverage on Vivint Solar in a research note on Monday, August 19th. They issued an “overweight” rating and a $12.00 target price on the stock. Citigroup set a $11.00 target price on Vivint Solar and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, ValuEngine lowered Vivint Solar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $11.67.

The firm has a 50 day simple moving average of $7.24 and a two-hundred day simple moving average of $7.11. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a market cap of $835.53 million, a price-to-earnings ratio of -2.69 and a beta of 0.34.

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

In other Vivint Solar news, COO Bryan Christiansen sold 3,655 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $8.06, for a total value of $29,459.30. Following the completion of the sale, the chief operating officer now directly owns 207,781 shares in the company, valued at $1,674,714.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Bywater sold 19,920 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $7.95, for a total value of $158,364.00. Following the completion of the sale, the chief executive officer now owns 1,098,432 shares of the company’s stock, valued at $8,732,534.40. The disclosure for this sale can be found here. Insiders sold 315,319 shares of company stock worth $2,402,936 in the last three months. Insiders own 4.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its stake in shares of Vivint Solar by 3.1% during the 1st quarter. FMR LLC now owns 14,028,753 shares of the company’s stock worth $69,723,000 after purchasing an additional 417,774 shares during the period. First Trust Advisors LP grew its stake in shares of Vivint Solar by 3.8% during the 1st quarter. First Trust Advisors LP now owns 116,179 shares of the company’s stock worth $577,000 after purchasing an additional 4,255 shares during the period. Aperio Group LLC acquired a new position in shares of Vivint Solar during the 2nd quarter worth $110,000. DekaBank Deutsche Girozentrale grew its stake in shares of Vivint Solar by 28.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 36,057 shares of the company’s stock worth $263,000 after purchasing an additional 7,981 shares during the period. Finally, Swiss National Bank grew its stake in Vivint Solar by 23.5% in the 2nd quarter. Swiss National Bank now owns 77,700 shares of the company’s stock valued at $567,000 after acquiring an additional 14,800 shares during the last quarter. Institutional investors own 91.44% of the company’s stock.

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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