Vivint Solar, Inc. (NYSE:VSLR) posted its quarterly earnings results on Tuesday. The semiconductor company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07, Bloomberg Earnings reports. Vivint Solar had a negative return on equity of 29.10% and a net margin of 36.54%. The business had revenue of $73 million during the quarter, compared to analysts’ expectations of $65.41 million. During the same quarter last year, the company posted $0.12 earnings per share. Vivint Solar’s quarterly revenue was up 109.2% on a year-over-year basis.
Shares of Vivint Solar (NYSE:VSLR) traded down 2.00% during midday trading on Wednesday, hitting $4.90. The stock had a trading volume of 696,230 shares. The company has a market cap of $541.82 million, a price-to-earnings ratio of 9.12 and a beta of -0.25. Vivint Solar has a 52 week low of $2.50 and a 52 week high of $6.09. The stock’s 50-day moving average price is $5.40 and its 200 day moving average price is $3.61.
In other news, COO Bryan Christiansen sold 27,033 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $5.50, for a total transaction of $148,681.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dana C. Russell sold 149,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $2.76, for a total transaction of $412,620.00. Following the sale, the chief financial officer now owns 250,500 shares of the company’s stock, valued at approximately $691,380. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 855,561 shares of company stock valued at $3,394,270. 4.50% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of VSLR. IPG Investment Advisors LLC bought a new stake in shares of Vivint Solar during the first quarter valued at about $112,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Vivint Solar during the first quarter valued at about $118,000. Rhumbline Advisers raised its stake in shares of Vivint Solar by 9.8% in the second quarter. Rhumbline Advisers now owns 28,571 shares of the semiconductor company’s stock valued at $167,000 after buying an additional 2,549 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Vivint Solar by 1.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 73,259 shares of the semiconductor company’s stock valued at $205,000 after buying an additional 1,000 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Vivint Solar during the second quarter valued at about $278,000. Institutional investors own 93.72% of the company’s stock.
VSLR has been the subject of a number of research analyst reports. Credit Suisse Group set a $4.00 price target on Vivint Solar and gave the stock a “hold” rating in a report on Monday, May 8th. Zacks Investment Research upgraded Vivint Solar from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) upgraded Vivint Solar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $3.50 to $6.00 in a report on Tuesday, June 20th. ValuEngine upgraded Vivint Solar from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Deutsche Bank AG cut Vivint Solar from a “buy” rating to a “hold” rating and set a $6.00 price target for the company. in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.32.
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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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