Insider Selling: Vivint Solar Inc (NYSE:VSLR) Director Sells 50,000 Shares of Stock

Vivint Solar Inc (NYSE:VSLR) Director Todd R. Pedersen sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $6.87, for a total value of $343,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE:VSLR traded up $0.09 during mid-day trading on Thursday, hitting $6.74. 311,522 shares of the company’s stock traded hands, compared to its average volume of 984,859. The company has a fifty day moving average of $7.37 and a 200 day moving average of $7.05. Vivint Solar Inc has a twelve month low of $3.55 and a twelve month high of $9.82. The company has a market capitalization of $846.47 million, a P/E ratio of -2.83 and a beta of 0.34. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.85 and a current ratio of 0.89.

Vivint Solar (NYSE:VSLR) last announced its earnings results on Thursday, August 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $90.80 million for the quarter, compared to analyst estimates of $91.92 million. During the same period in the prior year, the company earned ($0.50) earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, research analysts expect that Vivint Solar Inc will post -2.66 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. River & Mercantile Asset Management LLP purchased a new position in Vivint Solar in the second quarter valued at $737,000. UBS Asset Management Americas Inc. lifted its holdings in Vivint Solar by 6.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,400 shares of the company’s stock worth $244,000 after buying an additional 2,100 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Vivint Solar during the 2nd quarter worth about $37,000. Point72 Asset Management L.P. lifted its holdings in Vivint Solar by 0.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,832,421 shares of the company’s stock worth $13,377,000 after buying an additional 4,884 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Vivint Solar by 730.9% during the 2nd quarter. Morgan Stanley now owns 406,800 shares of the company’s stock worth $2,970,000 after buying an additional 357,840 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors.

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

About Vivint Solar

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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