SolarCity installations top own forecast in second quarter

In analysts report revealed to clients and investors on Thursday morning, Northland Capital maintained their “Outperform” rating on shares of SolarCity (NASDAQ:SCTY).

As a result SolarCity has teamed with Renew Financial to create a new financing option for SMEs, which combines low cost SolarCity structured financing with Property Assessed Clean Energy (PACE). The Company’s energy efficiency products and services include home energy evaluation and energy efficiency upgrades. The rating by the firm was issued on July 24, 2015. Analysts at Needham & Company LLC reiterated a hold rating on shares of SolarCity Corp in a research note on Monday, June 29th.

TheStreet Ratings team rates SOLARCITY CORP as a Sell with a ratings score of D+. The 52-week high of the share price is $79.4 and the company has a market cap of $5,298 million. There are a total of 9 analyst numbers that contribute to the consensus price target.

Over the last 6 months, SolarCity NASDAQ:SCTY has seen 0 unique insider buys, and 4 insider sales. Before the actual earnings report, the standard deviation for the earnings per share estimates was 0.14. SolarCity Corporation has dropped 5.1% during the last 3-month period.

Analysts on average were expecting the company to report a loss of $1.57 per share on revenue of $90 million.

In other SolarCity Corp news, CFO Brad W. Buss got 6,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock’s 50-day moving average is $54.82 and its 200-day moving average is $54.72. The transaction was disclosed in a record filed with the Securities & Exchange Commission, which may be accessed through this hyperlink. The shares were sold at an average price of $55.01, for a total value of $687,625.00. The revealing for this deal may be found here.

San Mateo, Calif.-SolarCity (NASDAQ: SCTY) introduced a new solar energy service today that will make it possible for many small and medium-sized businesses (SMBs) to pay less for solar electricity than they pay for power from their local utility for the first time. The company also has installed solar panels for large commercial customers, such as big box retailers like WalMart.

According to SolarCity, its GAAP operating Lease and Solar Energy Systems Incentive revenue increased 81% to $78.3 million. Still, though the system does open up the market for small businesses that can’t afford the upfront costs of solar, it’s still likely a better deal for a business that can afford it to pay for its own system and earn tax credits itself, as ThinkProgress pointed out earlier this year. The Company’s wholly owned subsidiary Zep Solar licenses its Zep Groove technology to photovoltaic module and power electronics manufacturers, and supplies the Company with complementary mounting and grounding hardware. The Organization serves clients in 14 states along with the District of Columbia, United States Of America.