Vivint Solar (VSLR) Shares Up 5.3%

Vivint Solar Inc (NYSE:VSLR) shares shot up 5.3% during mid-day trading on Friday . The company traded as high as $4.00 and last traded at $3.95. 979,052 shares were traded during trading, an increase of 121% from the average session volume of 442,790 shares. The stock had previously closed at $3.75.

A number of research firms recently issued reports on VSLR. Bank of America began coverage on shares of Vivint Solar in a research report on Monday, November 6th. They set a “buy” rating on the stock. Guggenheim began coverage on shares of Vivint Solar in a research report on Wednesday, September 27th. They set a “buy” rating and a $5.00 target price on the stock. ValuEngine downgraded shares of Vivint Solar from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. BidaskClub downgraded shares of Vivint Solar from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Finally, Zacks Investment Research downgraded shares of Vivint Solar from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $5.05.

The company has a current ratio of 1.18, a quick ratio of 1.05 and a debt-to-equity ratio of 1.30.

Vivint Solar (NYSE:VSLR) last posted its earnings results on Tuesday, November 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). Vivint Solar had a negative return on equity of 26.04% and a net margin of 18.65%. The firm had revenue of $75.10 million during the quarter, compared to the consensus estimate of $74.56 million. During the same quarter in the previous year, the company earned ($0.36) EPS. The business’s revenue was up 81.8% compared to the same quarter last year. sell-side analysts expect that Vivint Solar Inc will post -1.48 EPS for the current year.

In related news, Director Alex J. Dunn sold 100,000 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $3.43, for a total value of $343,000.00. Following the transaction, the director now directly owns 395,649 shares of the company’s stock, valued at approximately $1,357,076.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Bryan Christiansen sold 60,210 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $3.44, for a total transaction of $207,122.40. Following the completion of the transaction, the chief operating officer now directly owns 272,252 shares in the company, valued at $936,546.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,810 shares of company stock valued at $798,623. Company insiders own 4.50% of the company’s stock.

Several large investors have recently modified their holdings of VSLR. Quentec Asset Management LLC lifted its holdings in Vivint Solar by 24.5% during the third quarter. Quentec Asset Management LLC now owns 3,964,748 shares of the company’s stock valued at $13,480,000 after purchasing an additional 781,333 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Vivint Solar by 23.3% during the second quarter. Vanguard Group Inc. now owns 1,743,605 shares of the company’s stock valued at $10,200,000 after purchasing an additional 329,748 shares during the last quarter. GCA Investment Management LLC purchased a new stake in Vivint Solar during the second quarter valued at about $4,556,000. State Street Corp lifted its holdings in Vivint Solar by 5.8% during the second quarter. State Street Corp now owns 363,520 shares of the company’s stock valued at $2,127,000 after purchasing an additional 20,027 shares during the last quarter. Finally, Virtu KCG Holdings LLC lifted its holdings in Vivint Solar by 456.9% during the second quarter. Virtu KCG Holdings LLC now owns 161,804 shares of the company’s stock valued at $947,000 after purchasing an additional 132,751 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

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About Vivint Solar

Vivint Solar, Inc offers distributed solar energy, electricity generated by a solar energy system installed at or near customers’ locations, to residential customers. Through investment funds, the Company owns solar energy systems it installs and provides solar electricity pursuant to long-term contracts with its customers.

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