Vivint Solar (VSLR) Downgraded by Zacks Investment Research

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Vivint Solar (NYSE:VSLR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

According to Zacks, “Vivint Solar Inc. is a provider of residential solar energy systems in the United States. It designs, installs, and maintains cost-effective solar energy systems. The Company also offers photovoltaic installation software products and devices. Vivint Solar, Inc. is headquartered in Provo, Utah. “

Several other equities analysts have also issued reports on the company. JMP Securities upgraded Vivint Solar from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 8th. Bank of America raised their price target on Vivint Solar from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. ValuEngine upgraded Vivint Solar from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Finally, Guggenheim upgraded Vivint Solar from a “neutral” rating to a “buy” rating in a research report on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.50.

Shares of Vivint Solar stock opened at $5.40 on Friday. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.88 and a current ratio of 1.77. The stock has a market cap of $640.44 million, a PE ratio of -3.42 and a beta of -0.41. Vivint Solar has a 12 month low of $2.70 and a 12 month high of $6.15.

Vivint Solar (NYSE:VSLR) last announced its quarterly earnings data on Tuesday, August 7th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.30). The firm had revenue of $80.80 million for the quarter, compared to the consensus estimate of $91.30 million. Vivint Solar had a net margin of 67.35% and a negative return on equity of 36.77%. research analysts forecast that Vivint Solar will post -1.55 EPS for the current year.

In related news, insider L. Chance Allred sold 45,800 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $3.83, for a total transaction of $175,414.00. Following the transaction, the insider now directly owns 205,083 shares in the company, valued at approximately $785,467.89. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Thomas G. Plagemann sold 7,050 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $5.48, for a total value of $38,634.00. Following the transaction, the executive vice president now owns 203,947 shares in the company, valued at $1,117,629.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 455,781 shares of company stock worth $1,874,242. 4.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Vivint Solar by 402.4% during the 1st quarter. JPMorgan Chase & Co. now owns 82,527 shares of the company’s stock worth $301,000 after acquiring an additional 66,101 shares during the last quarter. Bank of New York Mellon Corp grew its position in Vivint Solar by 161.8% during the 4th quarter. Bank of New York Mellon Corp now owns 338,412 shares of the company’s stock worth $1,371,000 after acquiring an additional 209,141 shares during the last quarter. Victory Capital Management Inc. grew its position in Vivint Solar by 141.4% during the 1st quarter. Victory Capital Management Inc. now owns 51,867 shares of the company’s stock worth $189,000 after acquiring an additional 30,383 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Vivint Solar in the 1st quarter worth approximately $1,969,000. Finally, Perella Weinberg Partners Capital Management LP bought a new stake in shares of Vivint Solar in the 2nd quarter worth approximately $674,000. Institutional investors and hedge funds own 91.10% of the company’s stock.

Vivint Solar Company Profile

Vivint Solar, Inc provides distributed solar energy to residential, commercial, and industrial customers in the United States. The company operates in two segments, Residential, and Commercial and Industrial. 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.

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